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Report: Apple may double investment in Japan Display to US$200M

Apple Inc. is considering doubling its planned investment in Japan Display Inc. after Chinese investment fund Harvest Tech Investment Management Co. Ltd. reportedly withdrew from a financial bailout plan for the Japanese company, The Wall Street Journal reported Sept. 26.

Japan Display is expecting to receive a US$200 million investment from one of its customers, which is believed to be Apple, sources reportedly said. The amount is up from the US$100 million investment that Apple was reportedly considering in June.

In addition to the expected investment from Apple, Hong Kong-based Oasis Management Co.Ltd. also intends to push through with its earlier commitment to the struggling display maker.

Oasis Management stepped forward as a potential investor and committed at least US$150 million to Japan Display. This comes after Cosgrove Global Ltd. and Topnotch Corporate Ltd., together known as the CGL Group, as well as Taiwan's TPK Holding Co. Ltd., decided to not go ahead with its planned investment. TPK was part of the Suwa Investment Holdings LLC joint venture that considered to invest ¥80 billion to acquire control of Japan Display.

Japan Display is a major supplier of liquid crystal displays for iPhones, including the new iPhone 11 models. Japan Display also plans to mass-produce OLED panels for Apple in a few years, sources reportedly said.