“After months of uncertainty about its future, Apple supplier Japan Display has clinched $640m in financial aid from a government-backed fund, in a bid to strengthen its position in the latest OLED screen technology,” Kana Inagaki reports for The Financial Times. “”

“However, analysts immediately raised the prospect that a pivot to a difficult technology that requires persistent heavy investment could spell more funding troubles ahead for the Japanese manufacturer, which has mostly struggled since it listed its shares in 2014,” Inagaki reports. “Japan Display said on Wednesday that the financial package of up to ¥75bn ($638m) from a government-backed fund, the Innovation Network Corporation of Japan (INCJ), will be used to speed up development of two types of technologies to make organic light-emitting diode screens.”

“Japan Display had long touted the superiority of its liquid crystal display (LCD) technologies compared to OLED, which is championed by South Korean makers such as LG Display. But the company, created in 2012 by merging the LCD units of Hitachi, Toshiba, and Sony, has reversed course, with Apple expected to adopt OLED screens for its new iPhones,” Inagaki reports. “‘Our client needs are currently very diversified. To respond to their needs, we will accelerate development of OLED screens,’ said Mitsuru Homma, the chief executive of Japan Display.”

Read more in the full article here.

MacDailyNews Take: We love it when a plan comes together (and partially screws Samsung in the process)!

SEE ALSO:
Apple’s next-gen flagship OLED iPhone is codenamed ‘Ferrari’ – December 20, 2016
Apple says OLED finally ready for iPhones, but most suppliers still aren’t – November 17, 2016
Apple supplier Japan Display seeks $703 million bailout from Japanese government – November 11, 2016
Sharp President confirms Apple iPhone transition to OLED displays – October 31, 2016
Apple supplier Sharp names Foxconn exec as CEO to spearhead revival – May 12, 2016
Apple supplier Sharp preps AMOLED displays after Foxconn acquisition – April 6, 2016
Did Apple help Foxconn buy Sharp? – March 31, 2016
Japan Display, an Apple iPhone supplier, seeks financial help from Japanese government – August 9, 2016
Japan Display CEO hints at strong Apple orders ahead of new iPhone launch – September 3, 2015
Japan Display and Apple to build new $1.4 billion plant for iPhone Retina displays – March 6, 2015
Japan Display’s reliance on iPhone orders rises – June 24, 2014