Tokyo, April 1: Apple is reportedly buying $200 million worth of assets like LCD equipment from troubled panel maker Japan Display, the media reported on Wednesday. According to a Nikkei Asian Review report, Japan Display (JDI) has been in negotiations with "Apple and Sharp to sell its Hakusan liquid crystal display plant" owing to "poor sales of iPhone panels". The sale to both Apple and Sharp was reportedly delayed in the wake of new coronavirus pandemic. Apple Acquires Dark Sky App; Will Shut Down Android & Wear OS Apps in July.

"JDI decided to sell LCD production equipment to Apple first and real estate to Sharp later," the report mentioned.

By offloading Hakusan, JDI would concentrate smartphone LCD panel production at the Mobara plant in Chiba Prefecture. JDI started its operation on April 1, 2012. As of March 2014, JDI was one of the major suppliers of displays for Apple's iPhone. It was also a major display supplier of Nintendo Switch along with Sharp Corporation until 2017. Apple iPhone 9 Aka iPhone SE 2 Likely to Be Launched on April 5, 2020; Expected Prices, Features & Specifications.

A newly-created entity INCJ, Ltd. had become the major shareholder of Japan Display with 25,29 per cent of total shareholdings since September 21, 2018 as a result of a corporate split of the old the Innovation Network Corporation of Japan (INCJ).

(The above story first appeared on LatestLY on Apr 01, 2020 12:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).