Rumor: Apple wants to double share in investment to save Japan Display

Apple is said to double its share of an investment to save screen maker Japan Display. A Chinese investor has pulled out, which may require other investors to put more money into the company to save it.

Apple’s higher investment would be necessary as Harvest Tech Investment Management pulled out, The Wall Street Journal reports. Apple would like to double its investment from 85 million euros to 170 million euros. Japan Display needs the money to not go bankrupt.

Apple is not the only investor, but it is Japan Display’s largest customer. The screen maker relies on Apple for 60 percent of its revenue. The American company needs the screen supplier for LCDs for its iPhone 11, XR and 8; these are the only models with LCDs it produces.

The company has been in the red for the past five years. According to analysts, this is partly due to the shrinking smartphone market and, on the other hand, because manufacturers such as Apple, Japan Display’s largest customer, have switched to OLED panels. These are not yet produced in large numbers by the Japanese company.