Apple and GT Advanced Reach Settlement on Remaining Sapphire Debt - MacRumorsOpen MenuShow RoundupsShow Forums menuVisit ForumsOpen Sidebar
Skip to Content

Apple and GT Advanced Reach Settlement on Remaining Sapphire Debt

by

Apple and its former sapphire supplier GT Advanced have reached an agreement that will allow GT Advanced to absolve itself of the remaining $439 million that it owes Apple, reports The Wall Street Journal.

Under the settlement, GT Advanced will host an auction on November 23 to get rid of the equipment that it contributed to the sapphire making process, with the proceeds being split between the two companies. Equipment that does not sell during the auction will be given to Apple.

gt_advanced_logo

While GT intends to hang on to some of the equipment--as many as 600 sapphire-making furnaces--it is prepared to auction what it can and abandon what it can't cart off, court papers say.

Anything not sold will be handed over to Apple, which has agreed to scrap the equipment and extinguish the loan it made to transform GT from an equipment manufacturer into a supplier of smartphone-screen material.

Following the dissolution of the relationship between GT Advanced and Apple, GT Advanced agreed to sell off its sapphire furnaces to repay the loan Apple had provided to buy the equipment in the first place. Over the course of the past year, GT Advanced has been unable to find a buyer for the sapphire furnaces.

GT Advanced and Apple originally partnered up to produce sapphire displays for the iPhone 6 and the iPhone 6s Plus, but the deal soured when GT Advanced was unable to meet deadlines and produce sapphire that met Apple's standards. GT Advanced filed for bankruptcy in October of 2014, laying off more than 700 employees and shuttering the Mesa, Arizona factory, which Apple is repurposing as a data center.

Apple and GT Advanced's new agreement is set to be finalized following the approval of a bankruptcy judge.

Top Rated Comments

Benjamin Frost Avatar
144 months ago
Remember when we were all hoping for sapphire iPhone screens and liquid metal frames?

All gone to dust. I guess it's all aluminium for the foreseeable future. I wonder if we might see a return to a glass back like the iPhone 4? It was such a fine design.
Score: 8 Votes (Like | Disagree)
keysofanxiety Avatar
144 months ago
I always thought GT's bankruptcy was a bit of a charade, so that Apple could eventually buy their company on the cheap and control their own sapphire plant/margins in the long term.

Well. How wrong I was. :oops:
Score: 5 Votes (Like | Disagree)
144 months ago
What about the CEO that sold all his stock right before the company went under? That guy got away with murder and the FTC should step up its enforcement.
Score: 3 Votes (Like | Disagree)
Gasu E. Avatar
144 months ago
I always thought GT's bankruptcy was a bit of a charade, so that Apple could eventually buy their company on the cheap and control their own sapphire plant/margins in the long term.

Well. How wrong I was. :oops:
If I understand you correctly, that would be unethical. And if so, it would make other smaller companies wary of partnering with Apple in the future. Not worth it for Apple at all.
Score: 3 Votes (Like | Disagree)
rdlink Avatar
144 months ago
Remember when we were all hoping for sapphire iPhone screens and liquid metal frames?

All gone to dust. I guess it's all aluminium for the foreseeable future. I wonder if we might see a return to a glass back like the iPhone 4? It was such a fine design.
It was at that. I owned the 4 and the 4S, and I thought it was a beautiful design. Still do. If they offered it with today's technology I would still have one.

Still seems like a shame to me! All those months of rumors and then, nothing. Maybe there's still part of this story that we aren't seeing. Isn't it possible apple is not the bad guy here? If I were GT and had a good thing going that apple wanted, I'd probably get into a contract with them too, regardless of whether I really knew if I could deliver. My speculation is that they got excited, hoped they could "pull it off" and they couldn't. This is capitalism. This is one of the tragic realities in free market. We're free to make money and free to lose it.
I'm not sure why you would imply that Apple was "the bad guy." They entered into a business agreement with a company to deliver a product. They even underwrote their expansion. The company never delivered the agreed product, so they terminated the deal. Pretty clear cut and reasonable approach to the situation.

The only tragedy here is the apparent issue with the GT board members getting rich while their company dissolved and 700 employees ended up unemployed.
Score: 2 Votes (Like | Disagree)
Barry Bishop Avatar
144 months ago
Still lost a lot of money from this! I still have those nickel shares for some stupid reason
Score: 2 Votes (Like | Disagree)

Popular Stories

iPhone Duo Display Cracking

Apple Alerts Stores to iPhone Duo's Display Cracking Issue

Friday October 30, 2026 3:20 pm PDT by
In a memo shared with Apple Stores and Apple Authorized Service Providers this week, and later obtained by MacRumors, Apple provided technicians with guidance on how to diagnose and address the iPhone Duo's inner display cracking issue. If a customer reports the issue, Apple advised technicians to inspect the iPhone Duo and repair or replace it in accordance with their standard procedures....
iPad mini OLED feature 1

Apple Executive Comments on New iPad Mini Lacking 120Hz Display

Thursday October 29, 2026 1:47 pm PDT by
While the new iPad mini has an OLED display, the device does not support ProMotion, meaning the display's refresh rate is limited to 60Hz instead of 120Hz. ProMotion support would have allowed for the iPad mini's refresh rate to automatically adjust from 10Hz to 120Hz depending on the content being displayed, but evidently Apple has kept the feature exclusive to the iPad Pro among iPad...
Pinched iPad Mini

Apple Avoids Showing Pinched Fingers on iPad Mini Page in South Korea

Thursday October 29, 2026 11:52 am PDT by
In the U.S. and most other countries, Apple's website shows the new iPad mini being held by pinched fingers, but this is not the case in South Korea. The new iPad mini shown with pinched fingers on Apple's website in the U.S. On its South Korean website, Apple simply shows an image of the iPad mini on its own. The new iPad mini shown without pinched fingers on Apple's website in South Korea ...
Latest Stories
Apple Watch Ultra 4 Hits All-Time Low Price With Amazon's $99 Discount
Apple Watch Ultra 4 Hits All-Time Low Price With Amazon's $99 Discount
16 hours ago
Reminder: Apple's Big Discount on Beats 360 Ear Cushions Ends Today
Reminder: Apple's Big Discount on Beats 360 Ear Cushions Ends Today
16 hours ago
Here's a New Tour of Apple's HomeView Software
Here's a New Tour of Apple's HomeView Software
16 hours ago
Apple Reveals New iPad Mini's Battery Capacity
Apple Reveals New iPad Mini's Battery Capacity
18 hours ago
Top Stories: Apple's Big MacBook Pro, iPad mini and iMac Updates
Top Stories: Apple's Big MacBook Pro, iPad mini and iMac Updates
19 hours ago
'Pluribus' Season 2 Reportedly Starts Production Today
'Pluribus' Season 2 Reportedly Starts Production Today
1 day ago
iPhone 18 Pro Sales Surge in China, Offsetting Decline in U.S. and Japan
iPhone 18 Pro Sales Surge in China, Offsetting Decline in U.S. and Japan
1 day ago
HomeView Software 27.2: Wallpapers, Control Center, and More
HomeView Software 27.2: Wallpapers, Control Center, and More
1 day ago
Apple Alerts Stores to iPhone Duo's Display Cracking Issue
Apple Alerts Stores to iPhone Duo's Display Cracking Issue
1 day ago
iOS 27.3 Will Enable These Apple Intelligence Features in China
iOS 27.3 Will Enable These Apple Intelligence Features in China
1 day ago
Apple Says iOS 27.3 Beta Coming Next Week
Apple Says iOS 27.3 Beta Coming Next Week
1 day ago
Apple's Flash Storage Suppliers Are Finally 'Getting Their Revenge'
Apple's Flash Storage Suppliers Are Finally 'Getting Their Revenge'
2 days ago
14 New Things Your iPhone Can Do in iOS 27.2
14 New Things Your iPhone Can Do in iOS 27.2
2 days ago
iPhone Duo Review: One Week Later
iPhone Duo Review: One Week Later
2 days ago
Samsung Mocks iPhone Duo Display Cracks in New Ad Campaign
Samsung Mocks iPhone Duo Display Cracks in New Ad Campaign
2 days ago
The MacRumors Show: OLED MacBook Pro, iPad Mini 8, and More
The MacRumors Show: OLED MacBook Pro, iPad Mini 8, and More
2 days ago
MacBook Pro With Touch Display: 15 More Details Revealed
MacBook Pro With Touch Display: 15 More Details Revealed
2 days ago
Russia Places Apple on State Surveillance Registry
Russia Places Apple on State Surveillance Registry
2 days ago
Halloween Weekend Brings Discounts on Apple Accessories and Pre-Orders
Halloween Weekend Brings Discounts on Apple Accessories and Pre-Orders
2 days ago
Apple Has Released More Than 25 New Products in the Past Two Months
Apple Has Released More Than 25 New Products in the Past Two Months
2 days ago
Local Code Launches as Free, Private AI Assistant Tool for Mac
Local Code Launches as Free, Private AI Assistant Tool for Mac
2 days ago
Apple Acquires Ascend.io
Apple Acquires Ascend.io
2 days ago
HomePod Mini 2 Launches Today: All the New Features
HomePod Mini 2 Launches Today: All the New Features
2 days ago
AirTag 2 4-Pack Drops to New Low Price of $69.99
AirTag 2 4-Pack Drops to New Low Price of $69.99
2 days ago
Rian Johnson's iPhone Camera App Goes Viral
Rian Johnson's iPhone Camera App Goes Viral
2 days ago
Where Did All the iPhone Duos Go? Mostly to Apple's Stores
Where Did All the iPhone Duos Go? Mostly to Apple's Stores
2 days ago
Apple's Touchscreen MacBook Pro Could Ship 1.5M Units in 2027
Apple's Touchscreen MacBook Pro Could Ship 1.5M Units in 2027
2 days ago
New Apple TV 4K and iPad Mini: RAM Amounts Revealed
New Apple TV 4K and iPad Mini: RAM Amounts Revealed
2 days ago
Apple Executive Comments on New iPad Mini Lacking 120Hz Display
Apple Executive Comments on New iPad Mini Lacking 120Hz Display
2 days ago
Here's a Hands-On Look at HomePod Mini 2's New Two-Tone Colors
Here's a Hands-On Look at HomePod Mini 2's New Two-Tone Colors
3 days ago

🔗 Related Apple News & Rumors

Stay updated with the latest Apple ecosystem news and verified rumors