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Toshiba denies rumors about new Apple-sponsored LCD factory

Almost a day after this rumor broke out, a Toshiba spokesman said Reuters that the rumors of a new LCD factory that would receive investment from Apple are false.

Workers at Apple partner factories

The denial was rather vague, and it was unclear whether Toshiba Mobile Display simply signed an agreement with Apple, or whether it would even build a new display factory.

Sources say the construction of the factory is valued at $ 1.19 billion worth starting in early 2011.