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GT Advanced Tech declares bankruptcy

Since the beginning of 2014 we have been witnessing and witnessing here in Applesupportphonenumber, a series of rumors about what would be the new Apple devices, the iPhone 6 and the iPhone 6 Plus. One of the rumors that used to appear with more insistence and that generated more expectation was the possibility that Apple would incorporate the sapphire crystal for its devices, which would make terminals with screens much more resistant than the current ones.

In the end, as we have seen, Apple had not even contemplated incorporating the sapphire crystal , so expectations in this sense vanished. The news is that in addition to expectations, other things are fading today, and one of them is the possibility of survival of some companies, such as GT Advanced Technologies, Apple’s partner in the production of sapphire in some of its plants.

GT Advanced Tech declares bankruptcy
GT Advanced Tech declares bankruptcy

Although the partnership with Apple seemed to give a spectacular boost to the company , having to be structured around what would presumably be its new activity, providing Apple with what it needed with regard to sapphire, it seems that over time that boost has faded , either because the sapphire was not finally incorporated, or because Apple has been able to communicate that in at least the near future, it will not equip its devices with this material.

The case is so important that GT Advanced Technologies has decided to invoke the United States Bankruptcy Code , and specifically Article 11, that although it does not mean that the company will immediately disappear, it can be interpreted from this fact, that the situation for the company is not simple, and that perhaps it needs a deep and new organization.

In short, it is possible to think that due to the expectations of a large order from Apple, GT Advanced Tech was able to make investments and direct its business towards that future large order, which did not take place, and therefore could have been a bad bet on the part of the company . We will have to wait to know the scope of the new restructuring, although it seems that the character of this will be important.

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