Apple supplier Japan Display seeks $703 million bailout from Japanese government

“Apple Inc. supplier Japan Display Inc. is in advanced talks to receive a bailout of around ¥75 billion ($703 million) from a government-backed fund that is its largest shareholder, people familiar with the matter said,” Takashi Mochizuki and Atsuko Fukase report for The Wall Street Journal.

“The plan under discussion calls for Japan Display to receive new financing from Innovation Network Corp. of Japan, the government-backed fund that holds 36% of the display maker, the people said,” Mochizuki and Fukase report. “Japan Display, the nation’s flagship panel provider and a supplier for Apple’s iPhones, has seen its core business slump due to intense price pressure and competition from an alternative display technology—organic light-emitting diode, or OLED, displays — championed by South Korea’s Samsung Electronics Co.”

Mochizuki and Fukase report, “Japan Display wants to improve its liquid-crystal display technology to compete against OLED displays while trying to set up its own manufacturing lines for mass-producing OLED panels.”

Read more in the full article here.

MacDailyNews Take: Another potential OLED supplier – eventually – for Apple’s future generation iPhones, Apple Watches, and other devices is a very good thing for Apple while also pressuring Samsung – which is another very good thing!

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

[Thanks to MacDailyNews Readers “Fred Mertz” and “Dan K.” for the heads up.]

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