Japan Display, one of the main suppliers of iPhone liquid crystal display (LCD) screens, has lagged its South Korean rivals in OLED production and is now seeing its share price plummet.

The stock was down 10 percent at the end of Tuesday’s morning session, giving it a market value of about 105 billion yen ($965 million). At one stage, it fell as much as 21 percent.

Cash strapped Japan Display plans to start mass-producing OLED panels for smartphones only from 2019, and is looking for new investors which can finance investment to launch a production line.

“The Japanese government will continue to provide a lifeline to Japan Display, but the company has been just so slow in catching up with South Korean rivals in OLED”, said Masayuki Otani, chief market analyst at Securities Japan.

Shares in LG Display, which is expected to be Apple's new best friend right up until the moment it isn't gained five percent.

While it is fair enough that Apple should shift to a vendor which can provide it with the tech it needs, it is amazing that manufacturers are still leaning on Apple without thinking ahead.