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« Creative Intros Widescreen Portable Media Player | Main | New iPod Chair - Music to Your Rears? »iPod Maker Rethinks Lawsuit; Won't Risk Massive iPod ProfitsAugust 31, 2006FoxConn/ Hongfujin Precision Industry, Apple's Chinese iPod manufacturer, said Thursday it has cut its demand for defamation damages over a report it mistreated its workers to a symbolic 1 yuan (12 U.S. cents; 10 euro cents), following a wave of bad publicity. The company also said it was withdrawing its request that the court handling the case freeze the journalists’ personal assets. Apple announced yesterday that it was trying to settle the lawsuit over reporting of unacceptable labor practices. In related news, Hongfujin reports that its profits gained 43 percent in the second quarter on rising demand for music players and mobile phones. Net income climbed to NT$12.8 billion ($388 million), more than the NT$11.48 billion median estimate of eight analysts surveyed by Bloomberg News, and compared with NT$8.9 billion a year earlier. The combination of pressure from Apple, soaring profits and the company's decision to drop their demands suggests that, in this case, business comes before pride. "Of this entire episode, what the company had asked for is simply the right to protect her reputation, to preserve the Chinese dignity," Hongfujin said in a statement. "Any claim to us is more for its symbolic meaning than anything" (else)." via Bloomberg CommentsPost a comment |
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