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GT Advanced Files for Bankruptcy Results in Taiwanese Firms in Hot Water
By Vincent Wang
Published: Oct 08,2014
TAIPEI, Taiwan — GT Advanced Technologies, a partner with Apple Inc in a sapphire glass plant in Arizona, USA, said it had filed for voluntary bankruptcy protection on October 6, which resulted in many related Taiwanese firms are in hot water, including Crystalwise Technology, Tera Xtal Technology, Procrystal Technology, Crystal Applied Technology, Rigidtech Microelectronics, and ACME Electronics.
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GT Advanced Technologies suffered a major setback last month when its scratch-resistant sapphire glass was left out of Apple's new large-screen iPhones.
Taiwanese sapphire glass related firms, namely, Crystalwise Technology, Tera Xtal Techonlogy, Procrystal Technology, Crystal Applied Technology, Rigidtech Microelectronics, and ACME Electronics are influenced by GT Advanced Technologies's bankruptcy, their share prices fell lately.
Source said that most of the applications of sapphire glass in Taiwan is mainly in LED, and Apple is still the key factor of all of the sapphire glass related components firms.
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