Belgian chemicals company Solvay SA has won the contract to supply plastic components for Apple, Inc.'s latest handsets, the iPhone 6 and iPhone 6 Plus.

The chemical firm will supply a colorless thermoplastic polymer, polyether ether ketone polymer, for internal components of both models of the iPhone 6.

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The iPhone 6 and 6 Plus were released to the public in September, selling over 10 million units during their opening weekend. The contract from Apple uplifts the strategy of Jean-Pierre Clamadieu, Solvay CEO, to hone in on higher margin customer offerings while aiming to stop manufacturing less expensive polyvinyl chloride plastics.

"This undisclosed contract is good news for Solvay," said Sanford C. Bernstein analyst Jeremy Redenius.

Such an agreement with Apple could be worth as much as 60 million Euros in net profits and 100 million Euros, or US$126 million, in annual sales for Solvay "roughly estimated," he said.

Meanwhile, another company is less than thrilled with its contracts with Apple, Inc., labeling them as "oppressive and burdensome."

GT Advanced Technologies, Apple's supplier of sapphire screens for mobile devices, urged a bankruptcy court Friday to free it from its contracts with the makers of the iPhone 6.

The manufacturer's sapphire touch screens are a very durable synthetic replacement for the glass currently used on a number of Apple's devices, and are already used specifically for fragile components of the devices.

Apple's smartwatch, the Apple Watch and some of the latest versions of iPhones are equipped with sapphire screens.

The United States-based screen manufacturer "believes that it has many claims against Apple arising out of its business relationship," lawyers for the firm said in paperwork filed in US Bankruptcy Court.

"The agreements imposed oppressive and burdensome terms and obligations on GTAT."

The company has formally filed a petition for bankruptcy protection, bringing into question where Apple would turn to for its supply of the special touchscreens.

TagsSolvay, PEEK, Solvay SA, iPhone 6 Plus, Polyether ether ketone polymer, contract, GT Advanced Technologies, GTAT, Sapphire Glass, iPhone 6 Sapphire Glass Display, iPhone 6 Sapphire Display, Sapphire Screen, Bankruptcy court