Japan Display will receive a $100 million investment from Apple, its biggest customer, the Asahi newspaper reported on Thursday.
Japan Display is facing a funding crunch due to Apple’s recent shift away from liquid-crystal displays (LCD) and disappointing sales of the iPhone XR, the only LCD model in Apple’s 2018 line-up. Apple accounts for 60% of Japan Display’s revenue.
Representatives for Japan Display and Apple declined to comment on the report.
Japan Display had been pursuing a bailout deal with a Chinese-Taiwanese consortium, but the suitors delayed an up to 80 billion yen ($741 million) investment in order to reassess the company’s prospects.
Consortium members Harvest Group and Oasis Management Company Ltd set Thursday as the deadline to decide on its investment. Taiwanese screen maker TPK Holding Co Ltd and financial firm CGL Group dropped out of the process earlier this month.