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Manufacturer of sapphire glass for Apple requested permission to close the plant
Reuters publication is closely following the story from the bankruptcy of GT Advanced , supplying sapphire glass for Apple. Generalizing the analysts’ opinions, it is called bankruptcy GT graphic illustration of how the American giant computer electronics can destroy the hopes of suppliers who are at risk, based on the enrichment.
Company GT still has not explained the reasons for its decision to file for bankruptcy and does not comment on the situation.
While industry watchers are looking for possible causes of bankruptcy GT Advanced, the company has asked the court permission to close the plant in Arizona (USA) , where she made an artificial sapphire, including for Apple. Last invested in this project, according to some estimates, more than half a billion dollars. Consideration of the petition is scheduled for 15 October.
The unexpected news of the bankruptcy of the company GT Advanced Technologies has led to a drop in its stock price by 90%. Some analysts tend to believe that the bankruptcy was the result of rupture of relations with Apple. The fact that GT Advanced is almost completely dependent upon the manufacturer’s iPhone. Firstly, it must be a huge amount of Apple, but secondly, I hope that this year more than 80% of the company’s products to buy Californian giant.
According to Apple, GT Advanced bankruptcy was a surprise for us . Glasses of this manufacturer were to be used in the production of two models of watches Apple Watch. As in Cupertino will solve the problem with the supply of components is still unknown, but it is likely that the production of “smart” watches with sapphire crystal will be postponed.
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