Amazon to postpone Prime Day 2020 to August due to Covid-19

Amazon is planning to postpone its annual event until August. This in turn might lead the company to take a $100 million hit from the excess devices that it might have to sell at a discounted price now.

Reports last month hinted that the company could go ahead with its Prime Day 2020 as scheduled. (REUTERS)

Amazon is likely to postpone its annual sales event, Prime Day 2020, owing to the coronavirus outbreak at countries around the world.

The internal meeting notes seen by Reuters, indicate that the company is planning to postpone its annual event until August. This in turn might lead the company to take a $100 million hit from the excess devices that it might have to sell at a discounted price now.

Amazon Prime Day is the biggest sales event that the company hosts every year in the month of July wherein it offers massive discounts on the purchase of various products from its platform in countries across the globe. The Prime Day 2019 event took place between July 15 and July 16 last year and it was "one of the largest shopping events in the company's history."

Reports last month hinted that the company could go ahead with its Prime Day 2020 as scheduled. Leaked emails seen by Business Insider (via Android Central) said that the company wanted the sellers to have the deals submitted by April 17. Another email said that the company has posted additional instructions for the sellers to ensure that sellers had submitted the deals for the Prime Day sale.

But now, the note obtained by the news agency seems to indicate that the ongoing Covid-19 outbreak has derailed Amazon's plans of hosting its annual sales event as per its plans.