According to a report of Tokyo, Japan Display is going to receive a fund of $100 million from Apple Inc. Apple Inc is the organization’s biggest customer. This was reported by Asahi newspaper. This will take the screen maker’s share to a hike of 32%.
Right now, Japan Display is facing a problem of a funding crunch. The main reason behind this is that Apple has shifted from using a liquid crystal display which is known as LCD. The bad sale of iPhone XR is also a reason behind this shifting. The iPhone XR was the only model which has an LCD family of the year 2018. Apple has a share of 60% in the revenue of Japan Display.
The official representatives of the two big tech giants named Apple and Japan have declined to comment anything about this report.
Japan Display was concentrating on the bailout deal of Chinese-Taiwanese consortium. There were a few suitors who have delayed the deal up to 80 billion yen. It is almost $741 million. It is the only fund which will reassess the fund of the company’s prospects.
The Consortium members Harvest Group and the company named Oasis Management has declared a deadline to decide on this deal. The deadline is coming Thursday. The TPK Holding Co Ltd, which is a Taiwanese screen maker and CGL Group, which is a financial firm has closed the process of the deal. The closing was done this month.
There was a statement about the OLED project which says that:
“Japan Display Inc will begin to supply organic light-emitting diode (OLED) screens for the Apple Watch later this year, two sources said, a breakthrough for the cash-strapped company whose late shift to OLED has cost it orders from Apple. “and it also said that “The supply deal would mark Japan Display’s foray into the OLED display market, the two sources familiar with the matter said, declining to be identified because they are not authorized to speak to the media.”
An official spokesperson has denied commenting on this fact.
The shares of Japan Display were on a hike of 18%. It was on the shutting morning trade in the city of Tokyo. This was the best trade record after May.
Japan Display was a company which was established in the year of 2012. It was formed in a collaboration with Sony Corp, Hitachi Ltd, and Toshiba Corp. It was a government-broker deal. Here $1 is equivalent to 107.9900 yen.