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Amazon is reportedly postponing its summer blowout sales event, Prime Day, until at least August due to the ongoing coronavirus crisis.
According to internal Amazon executive meeting notes obtained by Reuters, pushing back Prime Day by about two months could result in a $100 million loss from the roughly 5 million devices it may now be forced to sell at a discount. The worst case scenario would be $300 million hit, according to Amazon’s general counsel, David Zapolsky.