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Photo: Feature China/Barcroft Media via Getty Images

The novel coronavirus outbreak in China is affecting nearly every sector of tech manufacturing, leading analysts to reduce production estimates for everything from TVs and smartphones to laptops and video game consoles.

Why it matters: Apple's earnings warning on Monday was a wake-up call for investors, but the virus' impact will be felt farther and wider.

  • In a new report, analysis firm Trendforce said it was cutting its first quarter forecast for nearly all manner of high-tech goods manufactured in China. While TV and monitor production estimates got cut by only about 5% each, the firm slashed most other categories by double-digit percentages.
Expand chart
Reproduced from TrendForce; Chart: Axios Visuals

Yes, but: Bloomberg reports that Apple remains on track to launch its updated low-cost iPhone next month and a new iPad Pro in the coming months, despite the virus-related slowdowns.

Go deeper: Economists warn coronavirus risk far worse than realized

Go deeper

Updated 17 mins ago - Health

U.K. first nation to clear Pfizer coronavirus vaccine for mass rollout

A health care worker during the phase 3 COVID-19 vaccine trial by the Pfizer and BioNTech in Ankara, Turkey, in October. Photo: Dogukan Keskinkilic/Anadolu Agency via Getty Images

The United Kingdom's government announced Wednesday it's approved Pfizer-BioNTech's COVID-19 vaccine, which "will be made available across the U.K. from next week."

Why it matters: The U.K. has beaten the U.S. to become the first Western country to give emergency approval for a vaccine against a virus that's killed nearly 1.5 million people globally.

2 hours ago - World

NYT: Biden won't immediately remove U.S. tariffs on China

President-elect Joe Biden during an event in Wilmington, Delaware, on Tuesday. Photo: Alex Wong/Getty Images

President Trump's 25% tariffs imposed on China under the phase one trade deal will remain in place at the start of the new administration, President-elect Biden said in an interview with the New York Times published early Wednesday.

Details: "I'm not going to make any immediate moves, and the same applies to the tariffs," Biden said. He plans to conduct a full review of the current U.S. policy on China and speak with key allies in Asia and Europe to "develop a coherent strategy," he said.

Trump threatens to veto Defense spending bill over social media shield

Photo: Erin Schaff - Pool/Getty Images

President Trump tweeted Tuesday a threat to veto a must-pass end-of-year $740 billion bill defense-spending authorization bill unless Congress repeals a federal law that protects social media sites from legal liability.

Why it matters: Trump's attempt to get Congress to end the tech industry protections under Section 230 of the Communications Decency Act is the latest escalation in his war on tech giants over what he and some other Republicans perceive as bias against conservatives.

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