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GT Advanced COO Says: Apple Told Us ‘Put On Your Big Boy Pants and Accept the Agreement’

GT Advanced COO Says: Apple Told Us ‘Put On Your Big Boy Pants and Accept the Agreement’

The unsealing of court documents related to the doomed partnership between Apple and sapphire making partner GT Advanced Technologies has unearthed some interesting information to say the least.

GT Advanced

9to5Mac:

In an unedited affidavit, GT Advanced COO Daniel Squiller claimed that Apple used a classic “bait-and-switch” strategy to secure its deal with the now-bankrupt supplier.

“When GTAT’s management expressed obvious concerns to Apple regarding the deal terms during the contract negotiations, Apple responded that similar terms are required for other Apple suppliers and that GTAT should: ‘Put on your big boy pants and accept the agreement’,” wrote Squiller.

The affidavit goes on to reveal just how much control Apple had over partner GT. GT would earn no income at all unless Apple opted to buy any sapphire material in excess of what was required by the loan “repayment” agreement. GT was forced into the role of a ‘captive’ supplier to Apple, bearing all of the risk and all of the cost, including the costs of more than 1,300 temporary and permanent personnel, utilities, insurance, repairs, and raw materials.

“Indeed, the total cost incurred by GTAT pursuant to the project with Apple has so far amounted to approximately $900 million.”

The full-length affidavit filed with the U.S. Bankruptcy Court for the District of New Hampshire is embedded below for your reading enjoyment:

  1. Corporate Guy says:

    Hey, GT Advanced, enough already! Is this company is run by children? GT Advanced was handed an unbelievable opportunity by partnering with Apple. Ever since THEIR failure they keep blaming Apple. No one coerced them to sign the deal. At the time they were delighted with the terms (read the old articles) and could not believe their lucky stars.

    Now that they have completely botched the operation and could not deliver on their promises they are attempting to make Apple look like the bad guys. I run my own company and I am completely accountable and responsible for the course my business takes.

    GTAdvanced does need to put on their big boy pants but they probably should remove their Depends undergarments first! Children.

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