GT Advanced Technologies (GTAT) and ON Semiconductor announced on March 17 the execution of a five-year agreement which GTAT will produce and supply its CrystX™ silicon carbide (SiC) material to ON Semiconductor. The agreement is valued at a potential of US$50 million. Greg Knight, president and chief executive officer at GTAT, said, “Our agreement today helps address the very steep trajectory for SiC as the preferred semiconductor substrate material for power electronics applications.” By leveraging ON Semiconductor’s hi...

GT Advanced Technology’s exit bankruptcy details were filed in court this week, according to an Apple Insider report based on summary made by The Wall Street Journal earlier this week.

GT Advanced Technology and Apple reached an agreement that will settle the sapphire supplier’s $439 million outstanding debt, reported Wall Street Journal, AppleInsider, and other media reports.

GT Advanced Technologies,announced that Tom Gutierrez is retiring from the company and has resigned as Chief Executive Officer and as a director. The Board of Directors appointed David Keck, Executive Vice President and General Manager of the Polysilicon and Photovoltaic business, as the new Chief Executive Officer, effective immediately.

Apple is objecting to bankrupt GT Advanced Technologies (GTAT) financing plans, saying the terms would undermine the settlement the two companies reached last year, reported Re/code.

iFixit recent teardown of iPod touch 6 revealed the absence of sapphire covered lens, reported Apple Insider.

Developments in the sapphire industry might become more unpredictable with the launch of the sapphire display glass equipped Apple Watch, said a Yole sapphire specialist at a sapphire and patterned sapphire substrate (PSS) forum during second day of the Taiwan International Lighting Show 2015 (TILS 2015), which runs from March 25-28 at TWTC Nangang Exhibition Hall, Taipei, Taiwan.

The LED industry can be a peaceful paradise or a burning inferno. It can be a place where you introduce your beloved so they can prosper, or be turned into a torture device to be used against your worst enemy. Euphoria tightly entwined with bitter misery can be observed in the industry throughout 2014. Some manufacturers have emerged successful at the end of 2014, while others have sadly left the market.

In late 2013, LEDinside team forecasted major company restructure market trends will continue throughout the year. The trend has been consistent in 2014, as more lighting manufacturers take necessary restructure measures to remain competitive in the market, such as Philips, Epistar or NVC Lighting.

In late 2013, LEDinside team forecasted major company restructure market trends will continue throughout the year. The trend has been consistent in 2014, as more lighting manufacturers take necessary restructure measures to remain competitive in the market, such as Philips, Epistar or NVC Lighting. Top players restructure decisions in the fast changing LED industry landscape further reinforces the trend that large companies will become even bigger and influential, while smaller manufacturers will find it increasingly difficult to compete.

Apple Inc. (AAPL) used “bait-and-switch” tactics in negotiating a contract with sapphire-maker GT Advanced Technologies Inc. (GTATQ), guaranteeing itself “heads I win, tails you lose” terms, a GT executive said in an unsealed court document.

Apple and GT Advanced Technology (GTAT) settlement was unaffected by the publication of documents previously considered confidential, according to a Bloomberg report.

After parting ways with former sapphire supplier GT Advanced Technology (GTAT), Apple will turn to third party sapphire suppliers to supply sapphire watch covers for the upcoming smartwatch, analyzed Seeking Alpha.

The seal on confidential documents signed between Apple and sapphire supplier GT Advanced Technology (GTAT) is expected to be gradually lifted in its bankruptcy case, according to a Bloomberg report.

GT Advanced Technology’s (GTAT) recently carried out major job cuts, and intends to take legal action against former partner Apple, according to a Reuters report.

Since GT Advanced Technology (GTAT) abruptly filed for bankruptcy protection this Monday, many industry insiders have speculated how this will impact Apple. While most Wall Street financial analysts believe Apple could walk away with GTAT’s sapphire equipment and patents at a bargain price, one report believes Apple could acquire GTAT.

The CEO of Apple sapphire supplier GT Advanced Technology, which recently filed for bankruptcy protection, might have known financial doom was looming, according to a latest report from Wall Street Journal.

Taiwanese sapphire manufacturer Tera Xtal Technology remained upbeat about claiming payment from the bankrupt U.S.-based MOCVD manufacturer GT Advanced Technology (GTAT), according to a UDN report. Tera Xtal held a press conference on Wednesday under Taiwan’s Gretai Securities Market request to explain to investors the impact from GTAT’s bankruptcy filing.

U.S. sapphire furnace and sapphire manufacturer GTAT, the primary sapphire supplier to Apple, filed for bankruptcy on October 6. As of September 29, GTAT reported having US $85 million in cash. Under the $578 million multi-year agreement GTAT and Apple signed last November, GTAT must supply a certain volume of sapphire ingots to Apple while Apple was to pay GTAT in four installments with the final $139 million payment scheduled for the end of October. But low sapphire yield rates have made Apple withhold the last payment. Additionally, GTAT lost an American Arbitration Association (AAA) lawsuit against Taiwanese sapphire manufacturer Tera Xtal Technology in August. AAA ruled GTAT should return payment totaling $ 24 million for faulty sapphire crystal growth furnaces, which greatly strained the firm’s finances.

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by GT Advanced Technologies Inc. (NASDAQ: GTAT) and certain of its officers. GT Advanced Technologies Inc., a technology company, provides materials and equipment for the solar, light emitting diode (LED) and electronics industries worldwide.

Sapphire manufacturer GT Advanced Technologies (GTAT) bankruptcy protection announcement sent shockwaves throughout Wall Street on October 6, 2014. Investors and financial institutes were shocked, no one expected the seemingly promising Apple sapphire supplier to declare insolvency.

GT Advanced Technologies (GTAT), announced that it had, together with certain of its direct and indirect subsidiaries (collectively, GT), commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. GT expects the court will authorize the company to continue to conduct business as usual while it devotes renewed efforts to resolve its current issues and develops a reorganization plan.

Tim Bajarin, President of U.S. market intelligence company Creative Strategy, refuted an earlier report by PTT Research Senior Analyst Matt Margolis that Apple dropped sapphire substrate last minute because of Chinese sapphire glass processing manufacturers Biel Crystal and Lens Technology’s low yield rates.

GT Advanced Technology (GTAT) stocks plummeted after Apple announced the new iPhone 6 will not be featuring sapphire cover glass, according to a Reuters report. 

The markets GT Advanced Technology (GTAT) are involved in include LEDs, smart phones, and solar panels are all multi-billion dollar opportunities with accelerating growth. Each of these markets is driving demand for specialized crystals such as polysilicon, photovoltaic, and sapphire crystals.

GT Advanced Technology (GTAT) low sapphire yield rates seem to have confirmed earlier rumors that the iPhone 6 sapphire cover version will come in limited volumes, according to numerous reports.

GT Advanced Technologies (GTAT), announced a realignment of its manufacturing, engineering and supply chain resources to optimize effectiveness across its increasingly diversified business portfolio. The actions taken will align previously centralized personnel and operational resources directly with the company's various businesses, which include the rapidly ramping Arizona based sapphire materials business and expanding equipment businesses with applications ranging from solar and LED to power electronics, consumer electronics and industrial.

GT Advanced Technologies (GTAT) is reportedly using the US $578 million received in prepayment from Apple to expand sapphire production through establishing an additional facility. This new facility will produce roughly 20 million sapphire displays per year on top of the 200 million estimated from earlier reports, said Analyst Matt Margolis via BGR. 

GT Advanced Technology might be adding more sapphire furnaces at Arizona plant for Apple, according to UBS Analyst Steven Chin.

GT Advanced Technologies (GTAT) released their first fiscal quarter results on Wednesday, which ended on March 29, 2014. GTAT has seen a slight drop in revenue as its joint project with Apple in Arizona gears up to become fully operational by the end of this year.