The full affect of the Tsunami is yet to be known. Along with the Billions of dollars of devastated property and lives turned upside down, there is also the economic echo that will be felt for months, if not years to come.
Below, see a letter from one of our suppliers showing us just one economic effect that will be felt immediately. How many other industries will be effected in the long run. . . only time will tell.
I want to keep you apprised of the current market situation for USB drives. The devastating earthquake that struck Japan last week has caused a severe price increase in flash memory (the key component in USB drives). Fears of a supply shortage in the near future are driving up spot prices all across the world. iClick’s factories in China report prices have increased 30-50% overnight, and in most cases chip supply is not even available.
There are still a lot of unanswered questions about the situation and much is in flux. Our management team is meeting this morning to finalize the best strategy to help our distributors. I’ll be in touch again today with more information as it develops.
Rest assured iClick is doing everything possible to reduce the effect to you and your customers.
Thanks and best regards,
President | iClick, Inc.