GT Advanced

Lens Technology May Buy Out GT Advanced with Apple’s Help

China-based Lens Technology, a company focusing on developing and manufacturing touch-panel cover glass and touch sensor modules, is said to be interested in the bankrupt GT Advanced, anonymous sources have revealed to United Daily News (via BrightWire). Unnamed Taiwan industry experts say that Lens noted in a filing with the Shenzen Stock Exchange its plans...

Apple Agrees to New $50 Million GT Advanced Settlement Terms

Before the bankruptcy judge's approval of the Apple and GT Advanced settlement, the two have slightly changed the terms. The altered terms bring a $50 million benefit to GT Advanced, allowing the troubled sapphire maker to produce more "near-term cash" and helping it rise out of bankruptcy, Reuters reports. The information comes from an attorney...

Apple Hands Over Sealed Documents to GT Advanced Creditors

Apple will share confidential information and answer questions formulated by the GT Advanced creditors’ lawyers ahead of the court review of the proposed settlement between the two companies, reports the Wall Street Journal. The information exchange is under wraps, but anything creditors seize on as grounds to challenge Apple’s deal with GT will have to...

GT Advanced Reminds Apple Suppliers Not to Make Promises You Can’t Keep

An interesting article by The Wall Street Journal notes that the recent bankruptcy of sapphire-screen maker GT Advanced serves as a reminder of two lessons Apple’s longtime iPhone part suppliers learned a while ago i.e don’t rely too heavily on Apple and don’t make promises you can’t keep. Charles Lin, the chief financial officer of Pegatron said in an interview, “Something like GT would...

SEC to Investigate GT Advanced’s Trading Activities

GT Advanced, Apple's failed sapphire crystal supplier, is facing a SEC investigation into share trading as the company neared bankruptcy, reports Bloomberg. The Wall Street Journal uncovered earlier last month that GT Advanced executives had sold shares, cashing in tens of millions of dollars before the Apple supplier filed for bankruptcy on October 6. The...

Here’s What Actually Went Wrong Between Apple and GT Advanced

Daniel Squiller, the COO of GT Advanced Technologies has just filed a revised declaration for public record, giving a more definitive account of where the deal between Apple and GT Advanced went wrong. According to Fortune’s Philip Elmer-DeWitt, Apple has been trying to suppress the story for last three weeks but now, it has finally been made public. "The...