Japan Display denies rumors from the Nikkei and Financial Post regarding a Factory Sale to Apple or Sharp
an ongoing soap opera throughout 2019. Patently Apple covered this news over 15 times this year alone and the year is ending with one last story. Multiple sources are covering this latest report that Japan display is considering selling key iPhone plant to Apple or Sharp.
The Japan Times reports that "Japan Display Inc. is considering selling a major plant in central Japan to Apple Inc. and Sharp Corp. in an apparent bid to improve its balance sheet, sources close to the matter said Friday.
The struggling display-maker, also known as JDI, closed the plant in Hakusan, Ishikawa Prefecture, in July due to weak demand for smartphone panels from Apple.
The Financial Post covering the Nikkei story claims that the plant could cost $730-$820 million. The report noted that Apple reportedly provided $200 million support to Japan Display that may come in the form of new equipment for the plant – but has now switched to using the funds to purchase the entire factory.
In total Japan Display owes Apple more than $800 million for a plant that was built four years ago.
Sharp confirmed in a statement it had received a request from a client to consider the purchase of Japan Display’s Hakusan plant. "We are carefully considering it, reviewing the impact that any purchase would have on our earnings, and whether and how much risk it would entail." Read more at the Financial Post.
The Nikkei Asian Review loves to post grand rumors that rarely pan out. In this case, while the rumor is interesting, Japan Display was quick to publish a press release distancing themselves from this rumor. as presented in full below.
Do you think it's a convincing statement or one made to avoid any non-disclosure agreements that they have with Apple? You be the judge.
Below are just four of the 15 stories that we posted on this story line in 2019:
Nov. 2, 2019: Apple and Partner Wistron are Offering additional assistance to Japan Display to Remain Viable
Oct. 7, 2019: Apple will Reportedly Increase Bailout Funds for Japan Display that makes Displays for the Popular Entry iPhone 11
Sept. 02, 2019: Funding for Japan Display's OLED Plant has been approved to make Displays that will meet Apple's Demanding Quality
June 18, 2019: Apple Supplier Japan Display is Dealt a Blow as one of it's Potential Investors Pulls out of Bailout Plan