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Struggling Apple Display Partner Japan Display Loses Key Bailout Investor

Struggling Apple Display Partner Japan Display Loses Key Bailout Investor

Apple LCD display partner Japan Display, which has struggled financially in recent months, has received a bit of bad news about its bailout plans. Panel maker TPK Holdings, which also works with Apple, has revealed that it won’t be investing a proposed $230 million after all. TPK was part of a proposed $723 million bailout plan.

Japan Display has also yet to receive confirmation of expected bailout funds from Cosgrove Global and Topnotch Corporate, which were part of a consortium put together to bailout the Japanese display maker. The duo were expected to invest $130 million for a piece of the company.

Reuters reports that Japan Display announced Harvest Group and new consortium member Oasis Management Company will decide whether to invest by June 27.

Japan Display has faced slowing sales of LCD panels, as the smartphone industry, Apple included, makes the move to using OLED panels in its devices. Japan Display’s plant has reportedly been running at only half capacity.

However, there may be light on the horizon for Japan Display, as the company will reportedly supply OLED screens for the upcoming Apple Watch Series 5.

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