Apple Sapphire Glass Supplier GT Advanced Files For Bankruptcy

Posted by samzenpus on Monday October 6, 2014 @04:26AM from the end-of-the-line dept.

mrspoonsi writes GT Advanced Technologies is filing for bankruptcy. In an announcement on Monday, GT Advanced, which makes sapphire displays that many investors hoped would be in Apple's newest iPhone, said that it was filing for Chapter 11 bankruptcy. In early September, shares of GT Advanced got crushed after the company's sapphire displays were not in the latest version of Apple's iPhone 6 and 6 Plus. GT Advanced, however, signed a multi-year agreement with Apple last November to supply the company with sapphire material. That agreement included a $578 million prepayment, which GT Advanced is set to repay Apple over a five-year period starting in 2015.

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Re:How can you by Lehk228 · 2014-10-06 04:52 · Score: 2, Funny

Cocaine is a hell of a drug.

--
Snowden and Manning are heroes.
Re:Chapter 11 is not business death. by geekmux · 2014-10-06 05:28 · Score: 3, Funny

It might be important to consider that a company filling for chapter 11 bankruptcy protection is not terribly uncommon.
Well yeah. Just look at Donald Trump. He turned bankruptcy into a hobby, and it doesn't seem to have affected his hairstyle budget whatsoever.