The most popular GT goes bankrupt because sapphire

2022-07-28
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GT went bankrupt because sapphire glass did not meet the requirements of the United States

last week, GT advanced technologies, a sapphire material manufacturer, suddenly announced bankruptcy, shocking the industry. Subsequently, Apple also said that GT's bankruptcy filing was "a shocking decision". Sources said that Apple has been working with GT to ensure that the company has the ability to repay its debts. As for the reasons for GT's bankruptcy, Wall Street wrote for the first time that GT advanced has been unable to meet the terms of the contract signed with apple. The direct reason is that the company is unable to provide apple with sapphire glass required for the production of iPhone 6 product line, which means that GT advanced seems to have caused a breach of contract

GT advanced technologies said on Friday that it would cut 890 jobs and close an Arizona plant that is expected to produce scratch resistant screens for apple. The company also said that it would be possible to claim compensation from apple and carry out bankruptcy reorganization

gt advanced has been keeping a tight mouth on the causes of its own financial difficulties. According to the "confidentiality agreement" mentioned by the company to the court a few days ago, it is basically certain that it will involve the relevant important terms reached with apple, hoping to avoid further information disclosure. GT advanced also requires the judge not to open the hearing process to the public, and to keep confidential the relevant important agreements involving third parties, because the disclosure of confidential information means that they will bear a greater burden. These new materials may change everyone's life in the near future and compensate for economic losses

especially uneven distribution

Zhonghua glass () Department

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