Samsung to shut flagship store in China amid coronavirus fears

Samsung Electronics Co. will temporarily shut down its flagship store in China amid growing fears of the spread of the novel coronavirus, company officials here said on Monday. Samsung will close its flagship store in downtown Shanghai until Sunday, the company said. The 800-square-metre store, the largest Samsung store in China, opened last October and sells various products, from smartphones to tablets.

"We decided to temporarily close the store for safety," a company official said. "The operation of the store will depend on the situation in China", Yonhap news agency reported. Apple Inc. announced on Sunday it will close all retail stores and corporate offices in mainland China amid the rapid spread of the novel virus.

Industry observers estimate that the outbreak of the novel coronavirus in China could hamper the global smartphone supply and demand. According to market researcher Strategy Analytics, global shipments of smartphones may be 2 per cent less than expected this year because of the coronavirus outbreak in China.

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The world`s No. 2 economy makes 70 per cent of all smartphones sold on the planet.