Tokyo, Apr 1 (IANS): Apple is reportedly buying $200 million worth of assets like LCD equipment from troubled panel maker Japan Display, the media reported on Wednesday.

According to a Nikkei Asian Review report, Japan Display (JDI) has been in negotiations with "Apple and Sharp to sell its Hakusan liquid crystal display plant" owing to "poor sales of iPhone panels".

The sale to both Apple and Sharp was reportedly delayed in the wake of new coronavirus pandemic.

"JDI decided to sell LCD production equipment to Apple first and real estate to Sharp later," the report mentioned.

By offloading Hakusan, JDI would concentrate smartphone LCD panel production at the Mobara plant in Chiba Prefecture.

JDI started its operation on April 1, 2012. As of March 2014, JDI was one of the major suppliers of displays for Apple's iPhone.

It was also a major display supplier of Nintendo Switch along with Sharp Corporation until 2017.

A newly-created entity INCJ, Ltd. had become the major shareholder of Japan Display with 25,29 per cent of total shareholdings since September 21, 2018 as a result of a corporate split of the old the Innovation Network Corporation of Japan (INCJ).