Utah People's Post

The Latest News from the Beehive State

Sunday, January 29, 2023
Log in
  • National News
    • Female Caseworker Killed & Doctor Shot in Philadelphia
  • State News
    • Car Chase Leads to Drug Arrest
  • Tech & Science
  • Health
    • How to Prepare For Ticks Season
    • Magical Weight Loss Bean Scam
  • Sports
  • Business
You are here: Home / Technology / Apple’s Sapphire Glass Supplier, GT Advanced Technologies, Files for Bankruptcy

Apple’s Sapphire Glass Supplier, GT Advanced Technologies, Files for Bankruptcy

October 12, 2014 Posted by Staff

sapphire-screen2

Last month, Apple unveiled its iPhone 6 and iWatch. Despite several negative reviews regarding the iPhone’s 6 bending properties, the smart-phone was very well received. However, Apple may have hit a problem which will definitely affect Apple’s watch production which was announced for early 2015. It seems that GT Advanced Technologies, the company that is supplying sapphire glass for Apple watches has just filled for bankruptcy. The papers were filed at the United States Bankruptcy Court. The company also asked for closure of its facilities in Massachusetts and Arizona, as well as Bankruptcy protection.

Judging by the court documents filed by the company, Apple is the one responsible for GT Technologies’ problems. It appears that before partnering with Apple, the company was a dominant entity in the solar industry. After GT Technologies decided to collaborate with Apple it had to shift from an “equipment manufacturer” to a sapphire materials producer.

Everything written down in the papers points to one responsible for GT’s sudden collapse: Apple. The company even claimed that the “oppressive” arrangements imposed on them by the smart-phone manufacturer have proved inharmonious with the company’s business model. These arrangements have ultimately led to the depletion of GT Technologies’ resources.

“As discussed in detail in the Supplemental First Day Declaration, the agreements imposed oppressive and burdensome terms and obligations on GTAT. The contracts and leases…provide no benefit to GTAT’s estates, and GTAT’s continued performance under the Agreements is no longer a viable business option. GTAT has determined that the Agreements are no longer necessary for GTAT’s business operations. The Agreements also are not a source of potential value for GTAT’s future operations, creditors, or interest holders and constitute an unnecessary drain on GTAT’s resources.”

One might be inclined to believe that GTAT is making this up simply to get out of a bad deal with Apple, but it seems that the company has actually been struggling in the past months. It is bent on closing its Arizona and Massachusetts facilities as soon as possible (sapphire is being produced at the Arizona facility). The closure of the company will also result in 890 layoffs that Apple is trying to prevent.

All in all, GT Advanced Technologies has come to the conclusion that collaborating with Apple is not in the company’s best interests. It wants to terminate all arrangements with the smart-phone manufacturer. Apple has yet to comment about this issue, but we are pretty sure that they are not happy about the way that events unfolded.

Share this:

  • Tweet
  • Share on Tumblr
  • Email

Filed Under: Technology Tagged With: Apple new smart-phone, Apple sapphire glass news, Apple's sapphire supplier files for bankruptcy, GT advanced technologies, GTAT files for bankruptcy, technology news

Woman working out at the gym

Just 23% of Americans Are Working Out Enough in Their Spare Time

June 29, 2018 By Amelia Donovan

Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)

June 29, 2018 By Amelia Donovan

United Airlines airplane

Passenger Mysteriously Dies on United Airlines flight Bound for Boston

June 28, 2018 By Amelia Donovan

Breakfast sandwich

Here Are Some Foods No Nutritionist Would Ever Eat

June 27, 2018 By Amelia Donovan

Poppy flower

UN Warns of Surge in Opium-based Drugs and Cocaine Supply

June 27, 2018 By Amelia Donovan

U.S.-Canada border

French Jogger Detained 2 Weeks for Accidentally Crossing Border

June 26, 2018 By Amelia Donovan

Plus size model

Normalizing Plus Size Could Fuel Obesity Crisis (Study)

June 25, 2018 By Amelia Donovan

Giant manta ray

Unique Manta Ray Nursery Spotted off Texas Coast

June 23, 2018 By Amelia Donovan

The rainbow flag

WHO Scraps Transgenderism from List of Mental Illnesses

June 22, 2018 By Amelia Donovan

456 People Dead at U.K. Hospital after Taking too Many Painkillers

June 21, 2018 By Amelia Donovan

Kenyan girls dancing

Kenyans Facing Poor Nutrition as Supermarket Shopping Is on the Rise

June 20, 2018 By Amelia Donovan

Pages

  • About
  • Contact
  • Privacy Policy GDPR
  • Staff
  • Terms and Conditions

Recent Posts

  • Just 23% of Americans Are Working Out Enough in Their Spare Time
  • Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)
  • Passenger Mysteriously Dies on United Airlines flight Bound for Boston
  • Here Are Some Foods No Nutritionist Would Ever Eat
  • UN Warns of Surge in Opium-based Drugs and Cocaine Supply
  • French Jogger Detained 2 Weeks for Accidentally Crossing Border
  • Normalizing Plus Size Could Fuel Obesity Crisis (Study)

Related Articles

  • Vintage radio

    Samsung Equipping Its Smartphones with Active FM Chips

    Jan 14, 2018
  • Apple Watch user

    Apple Is Officially the World’s Largest Wearable Producer

    Nov 16, 2017
  • Overwatch logo on a black background

    Hundreds of Chinese Players Get Banned from Playing Overwatch

    Nov 5, 2017
  • Captcha test displaying a series of letters

    Advanced AI System Manages to Fool Captcha Tests and Pass as Human

    Oct 28, 2017
  • Facebook app on a black phone

    Publishers Worldwide Are Afraid of Facebook’s News Feed Experiment

    Oct 25, 2017
  • Woman writing texts on an iPhone

    Japanese Company Sues Apple for the Animoji Trademark

    Oct 22, 2017
  • Teenagers looking at their smartphones

    Facebook Acquires the Teen Favorite App Tbh

    Oct 18, 2017
  • Mark Zuckerberg talking at a conference

    Zuckerberg Apologizes for the VR Video about Puerto Rico

    Oct 12, 2017
  • Presentation of Adblock Plus

    Malicious Developers Tricked Thousands of People with a Fake Adblock Plus Extension

    Oct 11, 2017
  • Master Chief jumping in a cave

    Microsoft Hides Clever Easter Egg Inside the Xbox One X Console

    Oct 8, 2017

Categories

  • Business
  • Entertainment
  • Health
  • National News
  • Nature
  • Provo
  • Salt Lake News
  • Science
  • Sports
  • State News
  • Tech & Science
  • Technology
  • Uncategorized
  • West Jordan
  • West Valley City
  • World

Copyright © 2023 utahpeoplespost.com

About · Privacy Policy · Terms of Use · Site Map · Contact