Japan Display, which supplies the liquid crystal display (LCD) panels used in iPhones and other smartphones, has announced it is seeking up to 110 billion yen ($990m) in new funding this week. The manufacturer's share price rose at the news by as much as 16%. A fall in iPhone sales and increasing use of organic light-emitting displays (OLED) in other smartphone models have hit the manufacturer's profits. In February, the company reported 2012 running of net losses. A merger of the display units of Sony, Toshiba and Hitachi created Japan Display in a fifth year.
Japan Display, which supplies the liquid crystal display (LCD) panels used in iPhones and other smartphones, has announced it is seeking up to 110 billion yen ($990m) in new funding this week. The manufacturer's share price rose at the news by as much as 16%. A fall in iPhone sales and increasing use of organic light-emitting displays (OLED) in other smartphone models have hit the manufacturer's profits. In February, the company reported a fifth year running of net losses. A merger of the display units of Sony, Toshiba and Hitachi created Japan Display in 2012.