Hyundai seems to have be the latest to learn the hard way that if you’re dealing with Apple, keep quiet about it. Don’t issue statements to the press mentioning Apple.
This happens pretty much every single time that Apple enters a new market, or thinks about entering a new market. Would-be partners don’t take Apple’s nondisclosure agreements seriously enough (or at all). They experience the consequences of their blitheness soon enough.
Hyundai confirmed in a short statement last week it was in early talks with Apple about cars. Almost immediately, the Korean auto giant started to backtrack, releasing a subsequent statement that removed all mention of Apple.
Hyundai’s retreat is almost certainly the latest fallout from Apple’s insistence on secrecy and discretion from its suppliers or potential partners. Companies who deal with Apple are held to strict nondisclosure agreements, even if they are public companies and Apple is a major customer.
In at least one case, Apple has threatened to penalize suppliers $50 million for each individual leak, according to a contract that became public as part of a bankruptcy proceeding by supplier GT Advanced Technologies.
Some companies can engage in limited discussions of their business with Apple, especially if Apple has publicly talked about the relationship and approves. One example is Corning, which supplies glass for iPhones.
MacDailyNews Take: Hyundai still might end up getting a deal with Apple, but they’ll certainly have to spend some time in the dog house first.