CNBC reported that companies dealing with Apple should never disclose it to the outside world. And that South Korea’s Hyundai Motor has recently proven it again after its announcement regarding Apple.
Hyundai Motor said in a brief statement on the 8th that it has yet to decide, but it is in the process of initial negotiations with Apple to build an electric vehicle with the aim of launching them in 2024.
Shortly after the announcement, shares of Hyundai Motor surged. After surging 19.42 percent on the same day, the market rose 8.74 percent on the 11th. When it reopened after the weekend. Several securities companies also raised Hyundai Motor’s target stock price from 200,000 won (around $182) to more than 300,000 won (around $273).
Apple and Hyundai Motor’s announcement has been unresponsive
However, Hyundai Motor’s stock price has been on the decline for four consecutive days. The rebound is related to Apple’s unresponsive response after Hyundai’s announcement. Apple’s much-anticipated announcement on the 13th did not mention anything about the alliance negotiations with Hyundai Motor.
The sudden surge in Hyundai Motor’s stock price and subsequent retreat are a prime example of Apple’s insistence on secrecy and discretion in all transactions with other companies.
Companies that do business with Apple are required to comply with strict non-disclosure agreements. Whether they are public or major customers of the company.
Apple’s Strictly Confidential Enterprise Culture
According to anonymous people who work with Apple, Apple has a corporate culture that takes confidential information more seriously than other competitors.
Just like in the contract disclosed during the bankruptcy process of GT Advanced Technology, which was Apple’s supplier. There was a clause in which Apple to impose a fine of $50 million per individual’s secret leak.
Apple’s secret culture is related to its founder, Steve Jobs. He relied on colorful and dramatic marketing techniques that gave him “surprise and delight” in announcing the new product.
Even today, Apple’s new product presentation showcase is still carried out using this surprise and delight’ as its main marketing strategy.
CNBC cited Apple’s internal business implementation policy. It took effect in October last year. They said that Apple’s partners and suppliers should follow the same level of secrecy as Apple.
