[Abstract] with apple to abandon the use of sapphire screen on iPhone 6 and iPhone 6 Plus, GT finally declared bankruptcy, and for apple to be responsible for the bankruptcy of GT, there is no clear conclusion.
Tencent science and technology sun sail reported on October 12th
Following the October 6th U.S.
sapphire screen manufacturer GT suddenly filed for bankruptcy, the company yesterday announced it would cut 890 jobs and close to original apple sapphire glass screen manufacturing Arizona factory, also sued apple to protect their own interests.
back in 2013, apple and GT have reached a cooperation, and signed a contract worth hundreds of millions of dollars, while Apple will help GT to build factories in Arizona, and GT to do is from 2015 for 5 years service apple.
GT said that this contract will allow them to gain profits hitherto unknown: in 2014, GT’s annual revenue will reach $600 million to $800 million, and most of all thanks to the sapphire project, until 2016, this number will be doubled; Arizona governor Jan Brewer pointed out that the new factory will create 700 jobs and to bring employment opportunities for 1300 construction workers…… Everything looks so beautiful, but all this with the release of the iPhone 6 become the bubble.
GT on the iPhone Apple hidden effort
October 31, 2013, GT reached an agreement with apple, specifically for apple supply sapphire material. GT submitted documents show that GT will receive a total of four yuan in advance of $578 million in advance, and provide sapphire products for apple. But GT was asked to provide sapphire products or cash to apple in the 5 years ended January 2020 to offset the advance payment.
In addition to
, GT and Apple also signed another three important terms:
1, GT has an obligation to accelerate the payment of Apple advance payment under certain circumstances;
2, GT has an obligation to use some of its assets in advance payment guarantee;
3, although MDSA (main development and supply agreement) provides the minimum and maximum supply obligations of GT, but MDSA did not make the minimum requirements for the purchase of apple.
can be seen from these terms, they are conducive to apple. GT also expressed frustration in terms of risk file: "if we cannot timely improve the sapphire material production plant in Arizona, we may not be able to meet the demand, we may not be able to get the payment in advance according to the provisions of the advance payment agreement, which means that we will be punished, including cash fines".
in addition, the sentence in the document is particularly critical: "GT has some and its sapphire >