Technological News Portal

Apple Shows No Mercy, $50 Million Will Be Fined If Information Leaked

Apple is very much cautious to keep its strategy and info of its product a secret before announce. And the company could turn itself into a nightmare to those who leak info of its product, strategy or something classified before announce. Apple signed a 5-year contract with GT Advanced Technologies in which it was mentioned that the company (Apple) would fine an amount of $50 million for leaking info of any future product of Apple.


Angry Apple

Late last year, Apple made an investment in what seemed like the future. A little-known manufacturer of solar components called GT Advanced Technologies Inc. was chosen by Apple to create the next generation of displays out of sapphire glass, a hard yet flexible material that is more scratch- and shatter-resistant than Corning’s Gorilla Glass.

Difference Between Sapphire And Corning Gorilla Glass

In November 2013, GT announced a $578 million deal with Apple, seemingly putting it on a rocket ship bound for success. Yet, not even a year after that announcement, GT has filed for bankruptcy after deciding to close and sell-off its loss-making sapphire crystal manufacturing facilities.

GT had originally been tipped to produce sapphire crystal displays for the iPhone 6, but when both handsets (iPhone 6 and iPhone 6 Plus) launched, the company was said to use “ion-strengthened glass.” The announcement sent GT’s share price tumbling, and now it needs the court’s help to save it from total collapse, since it owes Apple almost $600 million in advance payments for displays it won’t or couldn’t use.

However, GT has petitioned a New Hampshire district court to help declare Apple’s “oppressive” non-disclosure agreement to be null and void, saving it from the penalty and helping it to convince buyers that it’s worth picking up the valuable sapphire crystal production hardware.

GT Advanced said it has many claims against Apple, saying the terms of the agreement were “oppressive and burdensome” and it’s possible Apple in turn may sue GT Advanced for breaking the terms of its confidentiality agreement. Should the court agree to the request, we may learn more about Apple’s contractual relationships with its suppliers in the coming days and weeks.

Source: The Financial Times, GT Filing (Scribd)
Thanks To: Engadget

[ttjad keyword=”iphone”]

You might also like
Why Not Join 250,000+ Readers, Like You!
AND GET OUR LATEST CONTENT IN YOUR INBOX

SUBSCRIBE 
Your information will never be shared
close-link