Japan Display discussing factory sale to Apple, Sharp: Nikkei

[TOKYO] Japan Display Inc is discussing the sale of its key smartphone screen factory to Apple Inc and Sharp Corp for 70 billion to 80 billion yen (S$988.2 million to S$1.1 billion), the Nikkei business daily reported on Friday.

The cash-strapped company had said earlier this month that financial support of US$200 million promised by "a customer", which sources said was Apple, may come in the form of purchasing equipment at the plant.

Those discussions appear to have switched to the sale of the entire factory, the Nikkei said. Japan Display owes Apple more than US$800 million for the US$1.5 billion cost of building the plant four years ago.

REUTERS