Japan Display discussing factory sale to Apple, Sharp - Nikkei

TOKYO (Reuters) - 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 ($730 million-$820 million), the Nikkei business daily reported on Friday. The cash-strapped company had said earlier this month that financial support of $200 million promised by 'a customer', which sources said was Apple, may come in the form of purchasing equipment at the plant.

Reuters December 27, 2019 07:07:44 IST
Japan Display discussing factory sale to Apple, Sharp - Nikkei

Japan Display discussing factory sale to Apple Sharp  Nikkei

TOKYO (Reuters) - Japan Display Inc <6740.T> is discussing the sale of its key smartphone screen factory to Apple Inc and Sharp Corp <6753.T> for 70 billion to 80 billion yen ($730 million-$820 million), the Nikkei business daily reported on Friday.

The cash-strapped company had said earlier this month that financial support of $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 $800 million for the $1.5 billion cost of building the plant four years ago.

(Reporting by Chang-Ran Kim; Editing by Sandra Maler)

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