GT Advanced, the company pegged to make sapphire screens for Apple’s iPhone 6, has officially announced it is to split from Apple.
The company, which filed for bankruptcy after its displays did not make the cut for Apple’s latest handsets, said in a statement that it would be paying back over $400 million in loans made by Apple. It is raising the cash by selling off its furnaces over four years.
Hard wearing sapphire screens were long mooted to be a key spec in the new iPhones, but GT hit stormy waters after it revealed in the summer that it was no longer making displays for Apple’s latest kit.
Low yield rates were said to be to blame. Its share price subsequently tumbled and over 700 staff at its Arizona plant have lost their jobs.
GT has said it will still operate a ‘technical exchange’ with Apple, but the company will no longer make sapphire products. It is thought that next year’s iPhone update could feature the screen tech.
The iPhone 6 and iPhone 6 Plus are set to deliver Apple record final quarter sales, with over 10 million sold in its opening weekend alone.
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