The one I bought for my nephew that had the new fur and looked exactly as Aimster described was made in Vietnam, like the TDS Duffy bears. I looked at the tag specifically because I noticed the extreme drop in quality, so I wondered where it was made. So, I'm guessing a different factory in Vietnam? I can't be certain, but I also don't see how they could be made in the same place as the OLC version, with it's nicer fur and better construction...it would have to be two separate production lines for this to happen. So, that's why I guess they changed factories.
This is so endemic to Disney, and it's why I am a much less enthusiastic fan than I once was. They've become focused on profit, and although some of their designs are cute, they are so focused on maximizing profit at the expense of quality, that I can no longer support that. I spend my money on things I like, and one thing I like is quality. I refuse to pay top dollar for inferior goods. I've learned this lesson with clothes (for humans, LOL) as well. It makes a difference, to me at least. I used to not care, but not anymore.