Apple’s Dream of Tough IPhone Glass Trips Up GT Advanced
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Apple Inc. stuck with Corning Inc.’s glass in the newest iPhones after GT Advanced Technologies Inc. failed to deliver sapphire screens hard enough to work in the smartphones, a stumble that proved disastrous.
GT Advanced will tell a U.S. bankruptcy court today why a “severe liquidity crisis” forced it to file for Chapter 11, illustrating the pitfalls of a supplier changing its business model in order to make a new product for a single customer.