All items tagged with "bankruptcy"

Bankrupt Apple supplier wants to close sapphire plant after less than 1 year

Sapphire is used to protect the iPhone's rear-facing iSight camera. Photo: Jim Merithew/Cult of Mac

Sapphire is used to protect the iPhone’s rear-facing iSight camera. Photo: Jim Merithew/Cult of Mac

GT Advanced Technologies is apparently getting out of the sapphire production game, after filing for Chapter 11 bankruptcy protection at the start of this week.

As reported by Re/code and the Wall Street Journal, the beleaguered company is asking the court’s permission to “wind down” operations at its sapphire manufacturing plant in Arizona — and, yes, for those keep track, that does come less than one year after the company first announced its game-changing deal with Apple.

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Apple’s sapphire supplier wants to keep bankruptcy details under wraps

Sapphire is used to protect the iPhone's rear-facing iSight camera, as well as its Touch ID Home button. Photo: Jim Merithew/Cult of Mac

Sapphire is used to protect the iPhone’s rear-facing iSight camera. Photo: Jim Merithew/Cult of Mac

How GT Advanced Technologies could have filed for bankruptcy, despite Apple’s best efforts to prop it up, is still something of a mystery — and it’ll stay like that if the company gets its way.

According to a Reuters report, GT Advanced has requested that the New Hampshire bankruptcy court currently overseeing its case put the kibosh on releasing key documents related to a “third party,” claiming that this would allow it avoid paying damages thanks to confidentiality agreements.

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Apple sapphire supplier in financial crisis

Sapphire is used to protect the iPhone's rear-facing iSight camera. Photo: Jim Merithew/Cult of Mac

Sapphire is used to protect the iPhone’s rear-facing iSight camera. Photo: Jim Merithew/Cult of Mac

GT Advanced Technologies, a sapphire supplier that works closely with Apple, today confirmed that it has filed for Chapter 11 bankruptcy court protection. Its share price has been falling since it was revealed that Apple opted for Gorilla Glass rather than sapphire for its iPhone 6 displays, but GT insists it’s not going out of business.

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Kodak Sells Digital Imaging Patents To Consortiums Backed By Apple, Google For $525 Million

Kodak Sells Digital Imaging Patents To Consortiums Backed By Apple, Google For $525 Million

Struggling Kodak has finally agreed to sell its digital imaging patents to Intellectual Ventures and RPX Corporation — two consortiums backed by Apple, Google, Microsoft, and others — for $525 million. Kodak will receive a portion of the money from 12 intellectual property licensees, with each licensee receiving rights to the patents, while another portion will be paid by Intellectual Ventures, which will then acquire the digital imaging patent portfolio, plus the new and existing licenses.

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Court Rules Against Apple’s Bid To Transfer Kodak Patent Case Out Of Bankruptcy Court

Court Rules Against Apple’s Bid To Transfer Kodak Patent Case Out Of Bankruptcy Court

Sorry, Apple, but this stays in bankruptcy court for now.

US District Judge George Daniels denied Apple’s proposal to move the patent dispute with Eastman Kodak Company out of bankruptcy court and into his own District Court today. If Apple had been granted the proposal, it could have been tough going for Kodak’s plans to actually sell the technology.

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Kodak: Watch Out, Apple! Bankruptcy Will Help Us With Digital Transformation Into Patent Troll

Kodak: Watch Out, Apple! Bankruptcy Will Help Us With Digital Transformation Into Patent Troll

Kodak Brownie iPhone Skin (Photo by Photo Giddy - http://flic.kr/p/baXKwr)

Eastman Kodak’s bankruptcy filing early this morning was not a Kodachrome moment. However, the death of the film pioneer means its rebirth as a digital brand, complete with threats of patent lawsuits against Apple and others.

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