Report says Apple withheld $139 million payment to sapphire partner GT Advanced
GT Advanced had surprised everyone when it filed for bankruptcy protection Monday, and now we are learning a few more details about the company's financials. Although at one point a rising star in the tech world with its sapphire manufacturing business, GT Advanced's reliance on a single customer, Apple, may have made it vulnerable.
GT Advanced had spent $248 million in cash in one quarter and the Wall Street Journal reported that Apple had withheld the last $139 million payment, though it's unclear as to why:
Do you think GT Advanced should have opened up to other partners of its technology rather than banking on Apple?
Get more iMore in your inbox!
Our news, reviews, opinions, and easy to follow guides can turn any iPhone owner into an Apple aficionado