Pegatron CEO: Bloomberg is lying about ‘falling iPad mini demand’

By , May 9, 2013

iPad mini promo video (iPad mini users 003)

The credulous Bloomberg yesterday covered Pegatron’s investor conference where the contract manufacturer announced a whopping 80 percent year-over-year growth in first-quarter profits.

Pegatron also cautioned investors that second-quarter revenue may drop between 20 and 30 percent amid the broader decline in consumer electronics demand.

However, writer Tim Culpan decided the story wasn’t newsworthy enough in and of itself. And in his quest for pageviews, the reporter reckoned he better run the piece under the more Apple’s doomsday headline, “Falling iPad mini demand to push Pegatron electronics sales down.”

Well, guess what? 24 hours later, Pegatron CEO steps forward and tells the media that Culpan put those words in his mouth and completely fabricated the ‘falling iPad mini demand’ part. And there goes Bloomberg’s credibility right down the drain…

Fortune‘s methodical writer Philip Elmer-DeWitt figured Bloomberg’s sensationalistic story contradicts other sources so he reached out to Pegatron CEO Jason Cheng who responded in an email that Culpan made up the claim after Chen deflected his attempts to dig out detail numbers about some specific product:

I clearly refused to comment on specific products, nor customers, even though he continued with other questions.

I did say those words that he quotes me in the article “more on demand, while price has been stable”…, “almost every item is moving in a negative direction”…; “Not just tablets, also e-books and games consoles”.

“I did not say anything associated with any specific products,” the CEO said.

No indication, nor hint for specific products or customers’ has been our principle and guideline for any public events such as investors conference. There are always speculations after these meetings.

Indeed, Reuters today ran a story which contradicts Bloomberg, claiming that Pegatron is hiring as much as 40,000 additional workers.

It is widely believed that Pegatron needs more workers as it gears up to mass-manufacture Apple’s new iPhone, with one supplier source saying that “small-scale production of the display panel” for the rumored budget iPhone would begin in May, ramping up to mass production in June.

“It’s pretty clear that Tim Culpan at Bloomberg went into the conference with an agenda and was going to write a damning article about Apple by hook or by crook,” writes The Loop‘s Peter Cohen, calling the journalist a “f*****g douchebag.”

iPad mini (three-up, front, back, profile, white)

The problem with anti-Apple headlines by click-hungry big media: these stories get picked up by blogs and spread throughout the blogosphere like wildfire.

And with Samsung paying students to troll Apple publications with negative comments, the likes of Bloomberg aren’t doing themselves any favor bashing on Apple, especially when caught with their hand in the cookie jar.

Even Apple CEO Tim Cook cautioned investors not to base their predictions on any one single data point because Apple’s supply chain is a complex beast.

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  • Supafly_Boy

    “Believe only half of what you see and nothing that you hear”. Tech journalism is now in the toilet, sites like IDB would do well to vet stories from these anti Apple sites before linking to them or reporting them as fact.

    • Guest

      There are so many Anti-Apple people, no wonder some of this scumbags are sitting in Bloomberg.!!!

    • parnak dave

      There are so many Anti-Apple people, no wonder some of these scumbags are sitting in Bloomberg ..!!!

  • ap3604

    “And in his quest for pageviews, the reporter reckoned he better run the piece under the more Apple’s doomsday headline”

    Pretty hilarious that iDownloadblog would criticize another journalist of writing sensationalist headlines to get more people to click on the article when iDownloadblog does the EXACT same thing for pageviews all the time.

    Pot… meet Kettle.

    • http://twitter.com/El_Barto_01 El Barto

      Journalist? What journalist? Bloggers as good as they may be are not journalist. IDB has a passion for apple and unlike other sites where their passion is measure on how much a good review may cost. This is far more educational and news worthy than technobuffalo, Engadget, gizmodo or even cnn

      • ap3604

        Blogger, journalist, writer, paparazzi, whatever. Who cares what you call them…

        As for iDownloadBlog, they are no better than any of the other tech news sites. All of them are guilty of the same bull**** headlines to try and grab attention and page clicks for advertising revenue.

        I don’t really mind it either as I know that its how the industry works, but for iDownloadBlog to actually criticize someone else for doing the same thing they do (sensationalist headlines for page clicks) is pretty stupid.

    • http://www.idownloadblog.com Sebastien

      What are some sensationalist headlines you’ve seen recently on iDB? We do our best to avoid those kind of tricks and I think we do a pretty good job at it.

  • http://twitter.com/El_Barto_01 El Barto

    Or he just wanted his friends, colleges to buy stock at a cheap price so he decides to write something that may drop it. Many “journalist” do this and they hide behind the freedom of speech and shit.

  • http://www.facebook.com/antonio.expositoj Antonio Expósito Jiménez

    más de los mismo

  • chjode

    Manipulate that stock!

  • Gorgonphone

    i would be lying if i said the story wasn’t stupid as hell….lolol

  • sleeperjoe

    Falsification coming out of Bloomberg does not surprise me at all. I’ve been telling people for years, Bloomberg’s standards are just as shady as the next financial rag looking to manipulate stock values when they get bored.