Apple supplier Japan Display: Will receive 50 billion yen in financial aid by the end of the month

Apple supplier Japan Display (JDI) said it aims to receive significant financial support of 50 billion yen by the end of this month.

JDI's new CEO Minoru Kikuoka told Reuters in an interview that liquid crystal displays (LCDs) have regained favor in new markets, such as strong demand for affordable smartphones that use lower-cost screens.

Kikuoka, who took over the "cash-strapped" display maker in September, also said the 50 billion yen target was close and the deal was expected to be completed by the end of this month.

According to Reuters, a major customer of JDI may invest $200 million in it. According to sources, this major customer refers to Apple. Apple accounted for as much as 60% of JDI's operating income in the last fiscal year, but JDI has been losing money for the past five years.

Kikuoka also said that the company has already started producing OLED screens. According to sources, JDI will start producing OLED screens for Apple this year.

When asked about the mass production of smartphone OLED panels, Kikuoka pointed out that the company will look for partners.

or investors, and at the same time avoid the problem of overcapacity.