When Japan Display Inc broke ground on a new factory in central Japan in 2015, the future looked bright for one of the world's top vendors of ...
TOKYO: When Japan Display Inc broke ground on a new factory in central Japan in 2015, the future looked bright for one of the world's top vendors of liquid crystal display panels.
But it still owes Apple a majority of the construction cost, one of the company sources said. He declined to give the exact amount. "In retrospect, the new plant was unnecessary," one of the sources with direct knowledge of the bailout talks said."But the decision wasn't wrong back then. Japan Display started to pick up steam thanks to Apple at the time, and Apple wanted the new plant."
"Supplying components for just one model in massive volume is extremely cost-efficient," he said."At the same time, we exposed ourselves to huge volatility risks." Japan Display supplied almost a third of Huawei's smartphone screens in 2015, but its share had plunged to 4 percent by the third quarter last year as the Chinese company turned to BOE and Tianma, according to researcher IHS Markit.
Japan Display's management at the time, led by former Sanyo Electric executive Mitsuru Homma, promised to start mass-production of OLED panels by 2018.
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