Struggling Japan Display gets $100 million lifeline from Apple

Apple

Embattled Japanese TV and smartphone screen maker, Japan Display is said to be on the path to receiving about $100 million in needed capital.

The investment is coming from Japan Display’s largest customer, Apple.

The company was badly affected by the crash in Apple’s sales in China.

However, Reuters reported that a consortium consisting of Harvest Group and Oasis Management Company Ltd have set Thursday as the deadline to decide on its investment.

Japan Display has been struggling to get out of the impact of the decline in the prices of iPhone as well as the company’s migration to organic light-emitting diode (OLED) screens.

It would be recalled that the iPhone screen maker was expecting TPK and other Chinese investors would invest in the company.

The company said it was expecting a total of $740 million.

Japan Display was formed by a merger of Hitachi Ltd, Toshiba Corp and Sony Corp screen making business in 2012 and the company went public in 2014.