Apple Day – Apple, iPod, iPad, iPhone, iTouch, iMac, iBook

Apple Sapphire Glass Supplier GT Advanced Files For Bankruptcy

| 0 comments

mrspoonsi writes GT Advanced Technologies is filing for bankruptcy. In an announcement on Monday, GT Advanced, which makes sapphire displays that many investors hoped would be in Apple’s newest iPhone, said that it was filing for Chapter 11 bankruptcy. In early September, shares of GT Advanced got crushed after the company’s sapphire displays were not in the latest version of Apple’s iPhone 6 and 6 Plus. GT Advanced, however, signed a multi-year agreement with Apple last November to supply the company with sapphire material. That agreement included a $578 million prepayment, which GT Advanced is set to repay Apple over a five-year period starting in 2015.

Read more of this story at Slashdot.




More: continued here

Leave a Reply