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Apple is seeking to diversify the risks of too much investment in Japan, according to newspaper reports, and is claimed to be switching production of small smartphone display screens for use in its upcoming iPhones to Toshiba, in favour of Sharp.
The Nikkan Kogyo newspaper said Apple had been negotiating with both Toshiba and Sharp about investing 100 billion yen ($1.2 billion) each in production lines for small LCD displays, which are expected to be used in a future version of its popular iPhone.
The newspaper said the decision was made by Apple to limit its investments in Japan to just one company.
Shares in Sharp tumbled 2.7 percent on the report but regained ground after Sharp issued a statement saying the article was inaccurate.
Meanwhile Toshiba’s shares jumped 4 percent on the news. According to Reuters, Nikkan Kogyo declined to comment.
