The manufacturer of japanese display Japan Display has just made its first quarterly profit after more than three years, thanks especially to the Apple.
In the last quarter, the company achieved a net profit of 87,26 million dollars, a very good result if we think in the same quarter of last year, the company recorded a loss of almost 900 million dollars by risking failure. The last time that Japan Display reported a net profit was in the quarter from October to December of 2016. Since then, the company has spent a lot of time really very difficult, but in the last few months Apple has given a hand to keep afloat, the manufacturer of the display.
The biggest problem of Japan Display was the fact that he has not adopted OLED technology in a timely manner, while remaining anchored to the “old” LCD screens. Because of this, he had also lost many requests for supplies from Apple who had in the meantime passed to the OLED display to the edge of its top of the range.
The manufacturer of the display has yet to Apple’s hundreds of millions of dollars for a facility that was built four years ago. To help the company in trouble, Apple has agreed to slow down the pace of refunds expected, and has even invested in the same company to try to increase the liquidity. Fortunately, in the end it was “saved” thanks to an investment of $ 1 billion by the investment manager of the japanese Ichigo Asset Management.
Recently, to further the close relationship between Apple and the japanese company, JDI has become the sole supplier of LCD displays for the new iPhone THOUGH (2020).
In short, it seems that Japan Display is finally coming back to see the light, but now you have to understand if he will be able to continue on this path in the coming quarters.