Apple manger, Paul Devine, leaked the confidential internal information to the Asian suppliers, which allowed them to secure contracts with Apple. He received bribes in exchange of the information.
Devine had given Apple's internal price targets and other sensitive information to Asian suppliers. He was responsible for procuring parts for iPhone and iPod headsets.
"Apple is committed to the highest ethical standards in the way we do business. We have zero tolerance for dishonest behaviour inside or outside the company," said Apple in a statement.
US Federal Authorities reported that Devine had set-up a company in California and opened up bank accounts in his wife's name in order to launder the money he received for providing the information.