Chinese media have reported that Shenzhen O-Film Tech Co., Ltd., listed on Apple's 2018 Supplier List, plans to use new credit lines from lenders such as China's Bank of Communications and Tokyo-based Mizuho to buy a 33% stake in Japan Display, which supplies liquid crystal displays for Apple and other smartphones. O-film has said the credit line is meant to support investment and cash flow at subsidiaries.
Nikkei reported last week that Japan Display, reeling after fourth straight years of net losses and needing fresh capital for investments, had talked with potential Chinese investors on a stake sale.
The Japanese display panel maker has been hurt by price competition and remains far behind South Korean rival Samsung Electronics in producing next-generation OLED panels. For more on this read the full report by the Nikkei Asian Review here.