Samsung, Sharp and others tumble on report Apple is producing its own screens
Shares of several Apple suppliers traded sharply lower early on Monday following a media report that the iPhone maker was making displays of its own.
The iPhone maker is producing limited quantities of screens "for testing purposes," according to a Bloomberg report.
Shares of several Apple AAPL suppliers traded sharply lower in Asia Monday morning trade following a report from Bloomberg that the tech giant was making screens of its own.
The iPhone maker is producing limited quantities of screens "for testing purposes" at a facility located close to its headquarters in California, according to the Bloomberg report , which cited several anonymous sources.
Apple is reportedly investing in developing "next-generation MicroLED screens" that aim to make devices slimmer and less of a drain on power, Bloomberg said. The report added that MicroLED displays were harder to make than organic light-emitting diode, or OLED, screens.
A spokeswoman at Apple declined to comment when contacted by CNBC.
Apple makes use of a network of suppliers that includes Samsung Electronics 593-KR , which produces OLED panels for the iPhone X. Samsung shares were down 0.51 percent as of Asia morning trade, having pared some losses after falling more than 1 percent earlier.
LG Display, which is reportedly expected to start supplying displays to Apple, was lower by 0.89 percent.
Over in Japan, shares of Sharp were down 2.57 percent. Japan Display 6740.T-JP fell 1.45 percent after earlier recording a decline of more than 3 percent.
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