JDI may convert its Hakusan Ishikawa LCD fab to OLED production
Japan Display recently secured a 80 billion Yen (around $740 million) bailout plan from the China-based Harvest Group, Hong Kong-based activist investor Oasis Management and an unnamed JDI customer - which is likely to be Apple.
In August 2017, Japan Display announced a last-resort strategic focus on OLED displays as the Japanese display maker failed to shift to OLED displays in time. JDI now announced that it is extending the shut-down of its Hakusan Ishikawa LCD fab due to slow demand for LCD displays from Apple. JDI is talks with the Harvest Group to convert the fab to OLED production.
END: RiTDisplay and PlayNitride to supply Apple with MicroLED displays for its next-gen Watch device
Apple is currently using an LGD 1.57" 394x324 LTPO AMOLED display (1.78" 448x368 on the larger 44mm version) in its latest Watch smart wearable device. Apple's involvement in Micro-LED displays started in 2014 when it acquired LuxVue, and it was always assumed that Apple's main aim for the new display technology is to adopt it in wearable devices.
According to a new report from Taiwan, PlayNitride and RiTDisplay are in talks with Apple to supply microLED displays for Apple's next-generation Watch wearable. A micro-LED display could offer much higher brightness and efficiency compared to an AMOLED display, both of which could be highly desirable in wearable devices.
Japan Display formally secures $740 million for its OLED restructuring plan
Japan Display (JDI) announced that it has finally secured the 80 billion Yen (around $740 million) bailout plan. The large investment will come from the China-based Harvest Group, Hong Kong-based activist investor Oasis Management and an unnamed JDI customer - which is likely to be Apple.
Japan Display says that it plans to hold a shareholders meeting on August 29th to formalize the bailout plan.
TPK decided not to invest in Japan Display, Apple may step up and assist
Japan Display was supposed to get a $2.1 bailout deal led by Taiwan's TPK and the Harvest Group. TPK was supposed to invest $230 million, but the display maker announced that it decided not to invest in Japan Display after all. JDI also says that it has not yet received a positive commitment from other potential investors.
JDI did disclose that it approached Apple for help (JDI is a major LCD supplier to Apple) and Apple is considering to waive its debt, guarantee display orders and also invest around $185 million directly in JDI.
TPK and the Harvest Group not decided yet on JDI's bailout deal
Last month Reuters detailed the upcoming $2.1 bailout deal for Japan Display, led by a group of investors from Taiwan and China, including TPK and the Harvest Group. TPK and the HG are supposed to invest 80 billion Yen, but a new report from Reuters says that the plan is not finalized yet.
In what could just be a negotiating tactic, Reuters reports that the company informed JDI that they have not made a decision yet and are now "re-examining the prospects for Japan Display’s business performance". In any case it seems that JDI's future is not secure yet.
Reuters details Japan Display's upcoming $2.1 billion bailout
In August 2017, Japan Display announced a last-resort strategic focus on OLED displays as the Japanese display maker failed to shift to OLED displays in time. In 2017 JDI announced it is beginning to seek funds for the change in focus, and since then we have heard of several plans in place.
Reuters now details the upcoming $2.1 bailout now being prepared for JDI. According to Reuters, a group of investors from Taiwan and China, led by TPK and the Harvest Group will invest 80 billion Yen (around $720 million) in JDI. In addition, the Japanese government INCJ fund will provide 77 billion Yen in bonds and will also accept a debt-to-equity swap worth 75 billion. The total deal is worth around $2.1 billion.
Reuters: Japan Display to supply Apple with OLED screens for its 2019 smartwatch
According to Reuters Japan Display has signed a deal with Apple to supply OLED screens for Apple's 2019 Watch device. Reuters gets its information from "two sources familiar with the matter".
Apple's 2018 Watch Series 4 uses a 1.57" 394x324 LTPO AMOLED display (1.78" 448x368 on the larger 44mm version). Apple's current exclusive smartwatch display supplier is LG Display.
A group of investors from China and Taiwan to invest up to $700 million in Japan Display
In August 2017, Japan Display announced a last-resort strategic focus on OLED displays as the Japanese display maker failed to understand how quickly the industry will shift to OLED displays. JDI said it will need to raise $1.7 billion if it was to start OLED mass production (hopefully by the end of 2019).
According to Japan's Kyodo News Agency, a group of investors from China and Taiwan have agreed to invest 60-80 billion Yet ($540-721 million USD) in order to bailout JDI. The lead investors will apparently be China's state-backed Silk Road Fund and display maker TPK from Taiwan. In exchange for the investment, the group will take a 30-50% stake in Japan Display.
The Bell: Apple aims to sell 45 million 6.5" OLED iPhones and 25 million 5.84" OLED iPhones in 2018
More and more reports suggest that Apple's 2018 iPhone lineup (to be introduced in September 2018) will include two OLED models and one LCD models. A few days ago it the Nikkei Asian Review said that Apple's 2018 OLED iPhone launch orders will be 20% lower compared to 2017, amounting to 80 million panels.
Now the Korean site The Bell says that Apple ordered 45 million 6.5" OLED panels from SDC for the iPhone Xs Plus and only 25 million for the smaller 5.84" iPhone Xs - to a total of 70 million panels. For the lower-end LCD model, Apple ordered only 30 million panels from Japan Display.
Japan Display to raise $500 million while still searching for OLED partners
In August 2017, Japan Display announced a strategic focus on OLED displays as the losing display maker failed to keep up with the industry shift to OLEDs. JDI announced it will need to raise $1.7 billion as it aims to start OLED mass production in 2019, and the company started to look for partners for this project.
JDI is now set to raise around $520 million, offering new shares and selling some of its assets. JDI will offer new shares to 30 foreign funds, to Japan's LED make Nichia Corp and also JDI's largest stakeholder, the government-backed INCJ. This money will be be used to advance the company's LCD production, and the company hopes these funds will enable it to find the OLED partners and raise the $1.7 billion required for OLED production.
Pagination
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