Market Overview

Microsoft Delays Launch Of Dual-Screen Surface Neo To Next Year

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Microsoft Delays Launch Of Dual-Screen Surface Neo To Next Year

Microsoft Corporation (NASDAQ: MSFT) is delaying the launch of its dual-screened Surface Neo device to next year, according to a CNBC report Wednesday.

What Happened

The Windows 10X device was the latest in Microsoft's Surface line launched in 2012. It was originally set to launch during the holiday season this year, but the technology company has been forced to change its plan in the wake of the novel coronavirus (COVID-19) pandemic, people familiar with the matter told CNBC.

Microsoft website continues to say that Surface Neo will be launched during the holidays, and the company is yet to give a public update.

The Surface series accounts for about 4.5% of the company's total revenue.

Microsoft downgraded its expectations for the third-quarter earnings, saying that both the demand for its products and its supply chain has been disrupted due to the pandemic.

The technology veteran has taken a hit in the consumer electronics sector, but its workplace platform Teams has seen a massive surge in daily active users as most companies switch to remote work to curb the COVID-19 spread.

Price Action

Microsoft shares closed 1% higher at $165.13 on Wednesday. The shares traded 0.4% higher at $165.73 in the after-hours session.

Photo Credit: Courtesy of Microsoft.

 

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