Companies and Brands

Mattel Apologizes To China?

It is hard to imagine that Mattel (MAT), under pressure for recalls of toys from Chinese factories, would apologize to the Chinese government, but it has. According to Reuters, a senior company official said "Mattel takes full responsibility for these recalls and apologizes personally to you, the Chinese people and all of our customers who received the toys."

To get its problems behind it, Mattel, with its CEO suffering withering criticism in Congress and damage in the toy retail marketplace, seems ready to say it is sorry to anyone. The company is even taking public responsibility for the flaws in its products: "But it’s important for everyone to understand that the vast majority of those products that we recalled were the result of a design flaw in Mattel’s design, not through a manufacturing flaw in Chinese manufacturers."

Perhaps Mattel is now worried that, because it has damaged China’s reputation for quality control, it may be banned from building toys in the country, where labor is cheap.

And, quality control is low. No matter what Mattel says.

Douglas A. McIntyre

Find a Qualified Financial Advisor (Sponsor)

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.