Japan Display Hoping For Bailout
Struggling Japanese technology display company Japan Display said it hopes to clinch a deal this month for least 50 billion yen in vital funding – apparently enough to save the Apple supplier.
Japan Display was forced to scramble a after an investment group suddenly pulled out of a bailout plan for the company, which has been turning in losses for the last five years.
The company’s liabilities now exceed assets and Japan Display desperately needs a capital injection. Any collapse of Japan Display would hurt Apple’s ability to deliver competitive pricing for its new iPhone 11 base model which is US$50 cheaper than last year’s XR model.
It might also force the iPhone maker to turn to rival suppliers for its liquid crystal displays and increase its reliance on Samsung Display for organic light-emitting diode screens.