iPhone Duo Screen Crack Allegations Impact Korea’s Fine M-Tec as Stock Prices Drop

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Apple Faces Scrutiny Over iPhone Duo Screen Damage Controversy

Apple’s debut foldable smartphone, the “iPhone Duo,” has recently thrust the company into a vortex of controversy stemming from alarming reports of screen damage shortly after its release.

This misfortune has catalyzed a significant decline in the market value of prominent domestic parts supplier, Fine M-Tec (441270), whose shares plummeted by over 15%.

The company, which specializes in manufacturing hinge components for the iPhone Duo, has quickly denied any allegations of defective parts.

On the 26th, data from the Korea Exchange (KRX) revealed that Fine M-Tec concluded the day trading at 9,400 won, reflecting a decrease of 1,750 won (15.70%) compared to the previous day.

Concerns regarding screen integrity emerged on the 23rd, coinciding with the device’s launch. The iPhone Duo, which retails starting at 3.29 million won in Korea, has faced an influx of complaints from consumers in the United States and Australia alleging that their foldable screens either cracked or exhibited operational failure.

Notably, an Australian customer reported that their screen became damaged a mere six hours post-delivery.

Despite having unfolded the device fewer than twenty times, a visible crack formed along the center fold. Similar testimonials have proliferated across Reddit, where users have documented analogous damage.

As reports proliferated regarding consistent damage localization at the folding juncture, doubts arose surrounding the integrity of the hinge structure.

Nevertheless, the precise cause of the damage and the extent of affected units remain unverified at this stage.

In the ensuing dialogue, attention has pivoted towards Fine M-Tec, recognized for its critical role in supplying hinge components for the iPhone Duo.

The company is responsible for producing the internal hinges and metallic plates integral to the functional stability of foldable devices.

Responding to the burgeoning crisis, Fine M-Tec released a statement on its official website, distancing itself from the prevailing quality concerns. They asserted unequivocally that their parts were unrelated to the issues reported.

The statement emphasized, “The quality issue reportedly occurring in some recent products is not attributable to quality defects in the parts supplied by our company,” and further asserted that establishing a causal link between specific defects in finished goods and component malfunctions requires rigorous technical validation.

Moreover, Fine M-Tec indicated that it would contemplate pursuing legal action—both civil and criminal—against any individuals or entities that, lacking objective evidence, directly implicate its components in alleged defects or disseminate unfounded claims. Notably, the assertions did not explicitly reference Apple or the iPhone Duo.

Three foldable smartphones with large touchscreens and metallic edges are displayed on a gray surface, two partially open and one fully flat.

In contrast, Apple’s share price has remained relatively stable amid the tumult. Following the iPhone Duo’s release on the 23rd (local time), Apple concluded trading on the New York Stock Exchange at $347.73, reflecting a modest decrease of 0.14% from the prior trading day.

As of yet, Apple has refrained from acknowledging the screen damage reports as a legitimate product flaw.

Source link: Biz.chosun.com.

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Neil Hemmings

I'm Neil Hemmings from Anaheim, CA, with an Associate of Science in Computer Science from Diablo Valley College. As Senior Tech Associate and Content Manager at RS Web Solutions, I write about AI, gadgets, cybersecurity, and apps – sharing hands-on reviews, tutorials, and practical tech insights.
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