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Business deals

Apple leads $370m funding for struggling Japan Display

Company's LCD panels needed for popular new iPhone models

Strong demand for the iPhone 11 series, released in September, likely prompted Apple to extend aid to LCD supplier Japan Display.   © Reuters

TOKYO -- Apple will be among a group of backers expected to grant as much as 40 billion yen ($368 million) in support for troubled screen maker Japan Display, it was learned Wednesday.

Japan Display, also known as JDI, said that a contingent of unidentified clients agreed to the relief package. Apple will be responsible for most of the lifeline, a source familiar with the matter said.

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