toggle

AAPL Stock: 113.29 ( + 0.37 )

Printed from http://www.macnn.com

Foxconn takes financial hit on iPad plant explosion

updated 09:45 am EDT, Mon June 13, 2011

Impact on iPad shipments yet to be quantified

Foxconn has taken a substantial financial hit as result of last month's explosion at a plant in Chengdu, China, according to official financial data. The company's May revenues dropped 2.14 percent month-over-month to $200.561 billion NT, or about $6.95 billion US. The company directly blames the Chengdu accident, which killed three people and injured at least five times that number.

In addition to taking a human toll, the explosion also hurt iPad production, since the Chengdu facility is focused on iPad assembly and was forced to close until the first week of June. The full impact remains unclear; neither Apple nor Foxconn have provided any detailed information, although the Chengdu plant is known to merely complement the bulk of iPad production, which takes place in Shenzhen. While Chengdu was out of commission Foxconn additionally closed all of its polishing workshops for safety inspections. The explosion is thought to have been caused by aluminum dust, which was somehow ignited.






by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. testudo

    Joined: Dec 1969

    0

    What?

    You mean a company that sufffered a large explosion, and this cost them money? I'm shocked!

  1. Flying Meat

    Joined: Dec 1969

    0

    In other news...

    The sun is really hot!

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented