Apple is objecting to GT Advanced Technologies' financing plan over concerns that it would undermine its existing settlement reached with the bankrupt sapphire crystal supplier last year, reports Re/code. GT Advanced reached a settlement with Apple in October 2014 after failing to produce sapphire crystal of the quality desired by the Cupertino-based company for potential use in future products.
GT Advanced is attempting to restructure by raising $95 million through a loan agreement under the supervision of the U.S. Bankruptcy Court for New Hampshire, but the financing plan is contingent upon the company receiving enough insurance money to repair any damage to sapphire furnaces following a fire at its former Mesa, Arizona facility a few months ago.
GT Advanced's inspection equipment damaged in Mesa facility fire last May
Apple argues that GT Advanced already determined damage at the facility to be minimal, adding that the terms of the loan agreement give lenders too much leverage to foreclose on the sapphire furnaces that GT Advanced is supposed to sell in order to repay Apple. A group of GT Advanced shareholders have also reportedly questioned why the company needs to raise money nine months into bankruptcy.
GT Advanced filed for bankruptcy last October after it became clear the company was spending over one million dollars per day to run its operations, despite being unable to produce sapphire acceptably by Apple's standards. The company began winding down its sapphire production and decommissioning the furnaces to prepare them for storage and resale through the end of last year.
Wednesday October 29, 2025 4:22 am PDT by Tim Hardwick
Apple is about to drop iOS 26.1, the first major point release since iOS 26 was rolled out in September, and there are at least six notable changes and improvements to look forward to. We've rounded them up below.
Apple has already provided developers and public beta testers with the release candidate version of iOS 26.1, which means Apple will likely roll out the update to all compatible...
Friday October 31, 2025 1:40 pm PDT by Joe Rossignol
The upcoming iOS 26.1 update includes a small but helpful change for iPhones, and it could prevent you from running late to something important.
Specifically, when an alarm goes off in the Clock app, there is a new "slide to stop" control on the screen for turning off the alarm. On previous iOS 26 versions, there is simply a large "stop" button, which could be accidentally tapped.
The new ...
Monday October 27, 2025 7:55 am PDT by Joe Rossignol
The upcoming iOS 26.1 update includes a handful of new features and changes for iPhones, including a toggle for changing the appearance of the Liquid Glass design, "slide to stop" for alarms in the Clock app, and more.
Below, we outline key details about iOS 26.1.
Release Date
Given that Apple has yet to seed an iOS 26.1 Release Candidate, which is typically the final beta version, the...
Friday October 31, 2025 7:32 am PDT by Joe Rossignol
Apple has just given a strong indication that it will not be releasing any additional new Macs for the remainder of the year.
Apple's CFO Kevan Parekh dropped the hint during the company's earnings call on Thursday:On Mac, keep in mind, we expect to face a very difficult compare against the M4 MacBook Pro, Mac mini, and iMac launches in the year-ago quarter.Parekh essentially gave a heads up ...
Thursday October 30, 2025 4:42 am PDT by Tim Hardwick
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models at the same time, which is why we often get rumored features months ahead of launch. The iPhone 18 series is no different, and we already have a good idea of what to expect for the iPhone 18 Pro and iPhone 18 Pro Max.
One thing worth...
Monday October 27, 2025 4:51 pm PDT by Juli Clover
Apple is designing an updated version of the Apple TV 4K, and rumors suggest that it could come out sometime in the next couple of months. We're not expecting a major overhaul with design changes, but even a simple chip upgrade will bring major improvements to Apple's set-top box.
Subscribe to the MacRumors YouTube channel for more videos.
We've rounded up all the latest Apple TV rumors.
...
Wednesday October 29, 2025 7:13 am PDT by Tim Hardwick
Rumors are stoking excitement for the next-generation iPad mini that Apple is reportedly close to launching. So what should we expect from the successor to the iPad mini 7 that Apple released over a year ago? Read on to find out.
Processor and Performance
Apple is working on a next-generation version of the iPad mini (codename J510/J511) that features the A19 Pro chip, according to...
Apple's iPhone 18 Pro models could be available in new rich and warm color option, according to a known leaker.
The Weibo user known as "Instant Digital" today suggested that next-year's iPhone 18 Pro models will be available in at least one of the following color options: Coffee, purple, and burgundy.
The iPhone XR, iPhone 11, iPhone 12, iPhone 14, and iPhone 14 Pro were all available in ...
Tuesday October 28, 2025 1:07 pm PDT by Juli Clover
Apple today provided developers and public beta testers with the release candidate versions of upcoming iOS 26.1, iPadOS 26.1, macOS Tahoe 26.1, tvOS 26.1, watchOS 26.1, and visionOS 26.1 updates for testing purposes. The RCs betas come a week after Apple released the fourth betas.
The new betas can be downloaded from the Settings app on a compatible device by going to General > Software...
This is such an interesting story. I really wish someone would do an in depth investigative report on it. For a could years there were so many rumor/news stories about how sapphire was going to be the best thing since sliced bread. When Apple contracted with this company the stories talked about how this was such a game change and that Samsung and other phone makers were going to be years behind the curve on sapphire.
Then seemingly over night Apple pulls its contract and GT declares bankrucy. Then stories come out about how the executives of GT dumped their stocks only weeks earlier. Then, after seemingly after all is lost, Apple announces they're going to repurpose the facilities. Now this fire.
I'm not arguing a conspiracy theory, but I feel like there have been so many interesting twists in the story that it really deserves an in depth look at what really happened here.
Apple's contract to buy GT's equipment and facilities might be null and void because of the bankruptcy filing.
Say, I have $1,000,000 in debt and I sell my 3 yachts to someone for $500,000. Then I declare bankruptcy. According to the law in the United States, I can't give up my property and then declare bankruptcy - this is fraud. The other debtors want their share of the bankruptcy estate (which the yachts were part of. Any transactions in the prior 2 years are looked into and can all be taken back.
Apples contract to buy GT's equipment is *part* of the bankruptcy. It is how Apple is going to be able to recover their investment. Trying to get a loan which uses that same equipment as collateral *after* agreeing to sell them to Apple during the bankruptcy proceedings is more than a little shady.
GT can't be trusted ... they have proven that - they are for the quick money with fishy methods, they have no respect for contracts they sign or anything they promise and blame everyone else for their own failure.
Apple's contract to buy GT's equipment and facilities might be null and void because of the bankruptcy filing.
Say, I have $1,000,000 in debt and I sell my 3 yachts to someone for $500,000. Then I declare bankruptcy. According to the law in the United States, I can't give up my property and then declare bankruptcy - this is fraud. The other debtors want their share of the bankruptcy estate (which the yachts were part of. Any transactions in the prior 2 years are looked into and can all be taken back.
