Can’t get no sapphire action
Apple’s deal with GT Advanced (GT) to supply sapphire for iPhone displays has fallen apart; with GT filing for bankruptcy last month. The two firms have agreed that GT will sell the 2,000 sapphire manufacturing furnaces installed in its Apple-financed Arizona plant, with Cupertino taking a cut. GT had agreed to provide sapphire in “quantities, size and quality never before achieved,” said GT’s lawyer, but was unable to meet quantity at the agreed price. Apple has been lobbying the courts to keep other details of the deal secret, citing business confidence.