Apple Being Stiffed By Parts Supplier In Far East
Acccording to this article from MacMinute:
Apple component order in jeopardy
August 10 - 10:30 EDTÂ*Â*In its quarterly report filed Friday with the U.S. Securities and Exchange Commission, Apple said it may cancel an order with an un-named Asian supplier and risk losing millions in a deposit because the company can't guarantee it will deliver the agreed-upon level of parts by year's end. Apple said it gave the supplier a US$100 million deposit and if the company can't meet demand by Dec. 28, 2002, it will cancel the order. Apple would receive the amount of the prepayment not used, plus a penalty, but the filing hints that because of the supplier's financial trouble, Apple might lose some if not all of its deposit.
Apple component order in jeopardy
August 10 - 10:30 EDTÂ*Â*In its quarterly report filed Friday with the U.S. Securities and Exchange Commission, Apple said it may cancel an order with an un-named Asian supplier and risk losing millions in a deposit because the company can't guarantee it will deliver the agreed-upon level of parts by year's end. Apple said it gave the supplier a US$100 million deposit and if the company can't meet demand by Dec. 28, 2002, it will cancel the order. Apple would receive the amount of the prepayment not used, plus a penalty, but the filing hints that because of the supplier's financial trouble, Apple might lose some if not all of its deposit.