GT Advanced

Apple and GT Advanced have reached a new agreement under which the failed sapphire glass supplier will finally free itself from the $439 million it owes to the iPhone maker. Under a previous settlement, GT Advanced gained time to sell the sapphire-making furnaces that anchored Apple's load and use the money to get out of debt....

According to a new report from Recode, Apple is objecting to GT Advanced Technologies’ financial plan over concerns that it would undermine its existing settlement that they reached with the bankrupt sapphire crystal supplier last year. GT Advanced reached a settlement with Apple in October 2014 after failing to produce sapphire crystal of the quality...

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...

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...

Creditors of the bankrupt GT Advanced have a set of questions for Apple’s Senior Vice President of Operations Jeff Williams. Apparently, he played a crucial role in orchestrating the settlement between the two parties. Apple’s position is obvious: it declined to comment to the Wall Street Journal and also declined to include a "short, half-day...

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...

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...

The Wall Street Journal has shared new details in the story of GT Advanced and how it failed to fulfill its obligations in a sapphire deal with Apple. The day of GT Advanced filing for bankruptcy, it surprised Apple as both companies had planned to meet the following day to ease the former’s financial difficulties,...

Apple can make or break a supplier: Being part of the iPhone maker's supply chain adds value to the company, because Apple is known for its high expectations in terms of product quality. Dealing with a complex supply chain isn't easy, so to succeed, Apple needs to follow a well-defined path, which suppliers are aware...

When GT Advanced filed for bankruptcy on October 6, investors were shocked to find that the reason behind the filing was "burdensome" contract terms. But no one knew the exact terms, and both Apple and GT Advanced quickly asked the court to seal the documents. Well, today the curtain has fallen, and the Wall Street...

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...

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...