After micro-LED Apple Watch cancellation, LG Display seeks compensation from Apple
Due to the substantial investments it’s already made, LG Display is seeking compensation from Apple following the cancelation of the microLED display project for Apple Watch, The Elec reports.
Hartley Charlton for MacRumors:
As a result of the device’s cancelation, LG Display has apparently been left with substantial sunk costs, including the expense of purchasing 14 U.S. patents related to microLED technology from Taiwan’s Ultra Display. The company now faces potential claims from its equipment partners, some of whom had also invested in the project without formal contracts in place. LG also moved equipment from Gumi in Gyeongsangbuk-do to Paju in Gyeonggi-do, secured space for the microLED backplane process, and recruited specialized personnel to form a task force dedicated to the project. Overall, LG reportedly spent hundreds of billions of won to prepare for the microLED Apple Watch.
Apple’s decision to cancel the project was reportedly based on concerns about the economic viability of microLED technology for the Apple Watch.
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MacDailyNews Take: No contract, LG? Then you’re left with the cost of doing business.
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