Apple Sapphire Crystal Supplier Files For Bankruptcy

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How the hell can you say you have a "sound business model" when something like this happens?

Apple sapphire supplier GT Advanced Tech has today released a statement announcing that it is filing for bankruptcy under Chapter 11. Filing for Chapter 11 means the company will be able to continue normal operations until it can resolve issues with creditors. As of September 28th, GTAT had $85 million in cash.
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Probably just a step to clear out some debt before they sell the company off.
 
Steve said:
How the hell can you say you have a "sound business model" when something like this happens?
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In order to keep stocks up and the board of directors and top stakeholders happy.
That's how. ;)

When it comes to mega-corps, it isn't about a "business model" or making a product, it's about greed and how many people they can screw over.
 
From what I've read it sounds like because GT Advanced Tech didn't make the mass-fab dates for the iPhone 6/6+ release they might have failed on a massive contract they had with Apple. Because of this, and the fact that they were trying to shape their entire production to gear towards making the glass for Apple - They're fucked.
 
Probably because Apple is stepping away from LCD displays for their next iPhone. Welcome to OLED Apple; I know how you said you never would, but... you're not one for principals.
 
icemunk said:
Probably because Apple is stepping away from LCD displays for their next iPhone. Welcome to OLED Apple; I know how you said you never would, but... you're not one for principals.
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Hmmppphhh.

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icemunk said:
Probably because Apple is stepping away from LCD displays for their next iPhone. Welcome to OLED Apple; I know how you said you never would, but... you're not one for principals.
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That's not entirely relevant considering the fact that those displays need a screen to protect them still.
 
My theory is that the iPhone 6 was planned to have a sapphire display but right before release an issue was found that changed things. I don't think GT made that much investment just for applewatch sapphire production.
 
Yup, it sounds like they bet the farm on being the supplier of glass for the iPhone 6, and because they missed the deadline, they lost the contract. Seems like they'd be able to find another taker for all that glass, though...
 
After seeing videos of sapphire being very resistant to scratches but not impacts and actually shattering worse compared to the Gorilla glass version, I was "ok" with it not being sapphire.

However, on release day for the iPhone 6, customers found out it wasn't sapphire, GTAdvanced lost 13% of their company value that very same day.
 
How do you miss a deadline that you are basing the future of your company on.
 
Well then...I guess no one should be holding out for the "S" in 6S to stand for sapphire.
 
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