Phone damage

23 Jan 2019 By Robyn Mak Follow @mak_robyn

The iPhone-screen maker Japan Display may get a $550 mln lifeline from investors including a Chinese state-backed fund. Weak sales of the handsets have hurt. A rescue would point to the severe ripple effects of Apple’s woes, and herald pain for other suppliers like Foxconn.

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Japan Display, which specialises in making liquid-crystal display screens, is in "advanced talks" to sell a 30 percent stake to Taiwan-based TPK Holdings and Chinese state-backed Silk Road Fund, the Wall Street Journal reported on Jan. 22, citing people familiar with the matter.

The size of the investment could be around 60 billion yen ($548 million), according to the Journal.

In December, Japanese broadcaster NHK reported that Japan Display was in talks with Chinese groups for a capital injection. The company responded at the time, saying that it has been negotiating with outside parties including Chinese investors about alliances, but nothing has been decided.

Shares of Japan Display closed up 19 percent to 95 yen on Jan. 23.

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