Apple sapphire supplier GTAT bankruptcy?

According to Appleinsider news that Apple's main supplier of sapphire GTAT allegedly from apple to get $578 million in advance, but in October 6th suddenly filed for bankruptcy protection, is declared bankrupt.

GTAT said it had $85 million in cash until September 29th, and the existing business was not affected and tried to "solve the problem", but now the company's stock trading has been suspended. GTAT president and CEO said: "we will not send guarantees for finished, but it provides us with a new opportunity, let us through the business to protect the company, improve the balance after the strong stronger foundation. "

According to Appleinsider, in November 2013, GTAT has won the contract for Apple sapphire, apple using the Home key material in the lens and Touch ID, also including the upcoming Apple Watch.

In the original contract, the industry speculation Apple will likely use sapphire glass panel, but apple in Apple Watch and iPhone 6 will be published in September, did not use the sapphire panel in the iPhone 6 mobile phone, resulting in the company's share price fell.

According to Science News quoted industry sources pointed out that the rumored GTAT and apple out of some big problems in sapphire cooperation, leading Apple make snap to lay off more than and 20 people, GTAT will lay off more than and 70 people, some people think that this is because the relevant assessment team made sapphire panel too optimistic, but Appleinsider also believes that the sapphire is too expensive, easily broken no, is suitable for large size panel.

Whether or not the news is correct, but this bankruptcy protection is likely to affect the relationship between GTAT and apple, the company received orders to get a large-scale expansion of the capacity of apple.

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