Japan Display to receive $100 million investment from Apple, says report; shares jump [Reuters (UK)]
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Source: Reuters
Japan Display to receive $100 million investment from Apple, says report; shares jump - Reuters 2 Min Read TOKYO (Reuters) - Japan Display Inc is set to receive a $100 million investment from Apple Inc, its biggest customer, the Asahi newspaper reported on Thursday, sending the screen maker’s shares up as much as 32% in Tokyo. Japan Display is facing a funding crunch due to Apple’s recent shift away from liquid-crystal displays (LCD) and disappointing sales of the iPhone XR, the only LCD model in Apple’s 2018 line-up. Apple accounts for 60% of Japan Display’s revenue. Representatives for Japan Display and Apple separately declined to comment on the report. Japan Display had been pursuing a bailout deal with a Chinese-Taiwanese consortium, but the suitors delayed an up to 80 billion yen ($741 million) investment in order to reassess the company’s prospects. Consortium members Harvest Group and Oasis Management Company Ltd set Thursday as the deadline to decide on its investment. Taiwan
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