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 Hitachi, Toshiba and Sony created Japan Display in 2012.
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.