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Apple and China fund offer Japan Display $485m lifeline

Turnaround still unclear as other players stay silent at deadline

Cooling demand for smartphone panels has clouded the outlook for Japan Display, making would-be rescuers think twice. (Photo by Hideaki Ryugen)

TOKYO -- Japan Display will receive a 52.2 billion yen ($485 million) lifeline from China's Harvest Fund Management and a top customer, likely Apple, the liquid crystal display maker confirmed Friday, marking a step forward in a still uncertain turnaround process.

Apple is expected to contribute $100 million of the total through Harvest. While Harvest has submitted letters of commitment, the investment is contingent on conditions including a lack of interference by Chinese authorities.

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