Apple Inc supplier Japan Display Inc said it aims to clinch a deal for ...
) said it aims to clinch a deal for least 50 billion yen in vital funding by the end of the month, having had to scramble after a Chinese investor group suddenly pulled out of a bailout plan.
“We are close to 50 billion and I believe we can cement the deal this month,” said Kikuoka, who took the helm of the cash-strapped display maker in September. Japan Display has said Hong Kong-based Oasis Management still plans to contribute $150-180 million, while a major Japan Display client, which sources said is Apple, intends to invest $200 million.
Orders for LCD screens from a major customer have been “stronger than previously planned,” Kikuoka said. The comment follows a recent Nikkei Asian Review report that Apple has asked suppliers to increase production of its iPhone 11 models by around 10%.
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