Site icon MacTech.com

Apple component order in jeopardy

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.

Exit mobile version