GT Advanced says 'oppressive and burdensome' sapphire contracts with Apple led to bankruptcy

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Comments

  • Reply 161 of 167
    gwmacgwmac Posts: 1,813member

    I wouldn't mind seeing Apple produce some of their key components like Sapphire for example. I hope they just but them out, take 51% ownership and hire some competent managers to run it. 

  • Reply 162 of 167
    ash471 wrote: »
    The contract is sealed by the court so we aren't going to find out.  However, given how well Apple negotiated its contract, I would guess that Apple's loans have been secured by the equipment.  Normally a creditor would get $0.10 on the dollar for the equipment.  If the equipment is liquidated and the factory shut down, Apple might recover like $50 million.  

    However, what if Apple takes possession of the equipment and hires someone else to run the factory for them? Apple already owns the building.  Apple could make out like a bandit. If GTAT breached the contract, Apple probably has a right under the contract to have a third party make sapphire using GTAT technology.

    Next year's iPhone may be called iPhone 6S where "s" is for "sapphire" shipped from Arizona.  

    Time to work another deal with Foxconn, one of the few companies in the world that can scale and deliver for almost any Apple request.
  • Reply 163 of 167
    jbdragonjbdragon Posts: 2,312member

    Buying this company makes far more sense then buying BEATS!!!  More then likely cheaper also!

  • Reply 164 of 167
    jbdragonjbdragon Posts: 2,312member
    Quote:

    Originally Posted by gwmac View Post

     

    I wouldn't mind seeing Apple produce some of their key components like Sapphire for example. I hope they just but them out, take 51% ownership and hire some competent managers to run it. 


     

    They already do, the TouchID sensor and the rear Camera!!!  That's Sapphire and some key components!!!

  • Reply 165 of 167

    Nope they didn't do it for any of the Merimack or Salem employees laid off plus most of the employees in Mesa were temps

  • Reply 166 of 167
    Quote:

    Originally Posted by mpantone View Post



    Apparently GT Advanced's attorneys aren't very good at reading contracts. Nobody pointed a gun at their heads and told them to sign on the dotted line.



    I feel sorry for the line employees. Hopefully there will be jobs for them in the near future at these two facilities.



    No they wont be jobs in the other facilities ... they didn't off any positions the the people they laid off in Merrimack or Salem

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