☰

Telecomunicaciones y tecnología

GT Advanced settles with Apple, to exit sapphire production


    (Reuters) - GT Advanced Technologies Inc said it reached an agreement with Apple Inc , under which GT will exit sapphire materials production.

    GT will shut down its factories in Mesa, Arizona and Salem, Massachusetts, the company said in a statement on Thursday.

    Under the terms of the agreement, GT will be released from all exclusivity obligations with APPLE (AAPL.NQ)and a mechanism will be provided for the iPhone maker to recover its $439 million pre-payment to GT, without interest.

    (Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)