Apple partner files for bankruptcy

GT Advanced Technologies Inc., Apple Inc.'s partner in a sapphire glass plant in Arizona, said it filed for voluntary bankruptcy protection, according to Reuters.

GT suffered a large setback last month when its scratch-resistant sapphire glass was left out of Apple's new large-screen iPhones.

On announcement of the bankruptcy, the company's shares fell over 90 percetn to 75 cents, wiping out some $1.4 billion in market value, according to the report.

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