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WSJ: ‘Apple, Others Surprised by GT’s Bankruptcy Filing’

Daisuke Wakabayashi, reporting for the WSJ:

A hint of troubles at GT came last month, when Apple said it wouldn’t use sapphire screens in its new iPhones, contrary to what many observers expected. Apple added to GT’s financial pressures by not making a final $139 million prepayment loan because GT hadn’t met the technical milestones laid out by the company, the people familiar with the matter said. GT had said earlier that it expected Apple to make that payment by the end of October.

Sounds like my first take wasn’t far from the mark.

Thursday, 9 October 2014