Apple Sapphire Glass firm GT Advanced Tech goes bust
An American firm which supplies Apple with damage-resistant sapphire glass displays has filed for bankruptcy after its shares dropped by 90 per cent in the space of a few days.
GT Advanced Technologies went bust on Monday after its shares plunged from $1.5bn to $175m over the weekend.
The collapse will bring into question the firm’s future with partner Apple which last November signed a half a billion dollar deal with the company to use its hardened sapphire crystal glass displays.
The displays will be used in Apple devices such as the newly announced Apple Watch with the next generation of Read full story ›
Source: The Drum
