Toys bring joy, but sometimes they lead to trade wars too.
India has banned imports of Chinese toy for six months after health concerns were raised through a public interest litigation filed by the Consumer Welfare Association.
China, meanwhile, has decided to hit back and go to the World Trade Organisation against the ban. After all, toys are big business!
So who are the world's biggest toymakers? Read on to find out (names are not ranked).
1. Mattel Inc.
Market cap $6.5 billion (2008)
Revenue $5.970 billion (2007)
Net income $600.0 million (2007)
Employees 31,000 (2008)
It is the world's largest toy importing company based on revenue. It produces Barbie dolls, Hot Wheels and Matchbox cars, American Girl dolls, board games etcetera.
It was founded in 1945 by Harold 'Matt' Matson and Elliot Handler (hence the name 'matt-el'). Handler's wife, Ruth established the Barbie product line for the company in 1959.
On August 2, 2007, Mattel's Fisher-Price subsidiary recalled almost one million Chinese-made toys, because of
potential hazards from parts of the toys that were coloured using lead-based paint.
Image: A toy house by Mattel Inc.
Also read: Over 70,000 job cuts announced in a day
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