A new rumor says Apple may be seeing supply constraints for the iPad 2 and iPhone 4 due to material and labor shortages at a Foxconn facility in Chengdu, China.

Taiwan-based electronics manufacturing service (EMS) provider Foxconn Electronics (Hon Hai Precision Industry) is reportedly facing a shortage of both labor and materials at its plants in Chengdu, China, which is likely to affect shipments of iPad 2 and iPhone 4 orders in the second quarter, according to sources from upstream component makers.

They claim Apple estimates quarterly sales for the iPhone 4 at around 20-22 million units and iPad 2 in the 10 million unit range. Foxconn prepared these facilities to accommodate roughly 40 million iPad 2 units annually, and although the China plant in question doesn't push out as much iPad 2 volume as their Shenzen plant, the impact could still be measurable if consumers find it difficult to pick up the tablet as demand grows.

This also goes against comments made by Apple COO Tim Cook during their quarterly earnings call where he indicated Apple felt confident with their iPad 2 supply plans, and that they should subsequently have an easier time meeting demand going forward.

We're hoping this rumor is off-base but your guess is as good as ours. Let us know what you think in the comments!