Apple sold about 3 million new iPads last weekend. The usual lines formed outside Apple stores and shipping times for the new iPad slipped back several weeks as initial inventory sold out. In addition, the new iPhoto app reported sold a million copies in the app store.
On Monday Apple CEO Tim Cook announced a change to Apple’s finances as it will begin to offer stock dividends later this year. In addition, Apple will buy back $10 billion in stock over the next three years. This is in response to the nearly $100 billion in cash that Apple currently has on the books as a result of profits.
There was an interesting development this week in Apple’s ongoing Chinese labor controversies. One of the key counterpoints to Apple’s use of Chinese factories came from an episode of This American Life, a radio program that aired in January. That episode told the story of a man who visited the factories to find underage workers, injuries and poisonings. But it turns out that much of those details were fabricated and the producers of the show have issued a retraction.
Strong iPad Sales, Dividends and Stock Buyback
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The issues are still going on in China,and i still can`t find out about the apple factories in Vietnam, Malaysia,and Thailand,where the parts are made then shipped to China. I watched this on a documentary where children are collecting mercury on a highly toxic dump to get money to try and get by.
More Foreign Invested Electronics Projects To Kick Off In Vietnam
Most notably,Wintek Corporation,a Taiwanese producer of touch screens for Apple iPads and iPhones,has decided to revise up the investment capitol in its Bac Glang-based factory from US$250 million to US$1.12 billion. The additional cpital of US$870 million will be used to import more devices and production lines,as well as expand the workshop to boost production. The factory of Wintek in Vietnam will supply touch panels,LCD displays and LCM. When stable production is achieved,the factory will export billions of dollars worth of products and generate jobs for over 10,000 workers.