Apple would have to pay almost $1 billion to Samsung because of the iPhone

It seems that Apple’s iPhone sales aren’t doing so great. According to a new report from Display Supply Chain Consultants, Apple has paid $950 million to Samsung for not reaching OLED panel purchase targets.

It seems that Samsung had already reported a “one-time gain related to its display business” in the second quarter, but it didn’t include how much. This gain was reported by TheElec, claiming that Samsung had received around $745 million from Apple, but the latest report from DSCC suggests that it was closer to $950 million.

The report explains that “The Apple payment likely turned what otherwise would have been an operating loss for display devices into an operating profit.” This isn’t the first time that Apple has had problems with Samsung Display for not buying enough OLED panels. The same thing happened back in Q2 2019, but back then, Apple had to pay $683 million. Now, we will have to see if Apple manages to reach the agreements it currently holds with its suppliers on minimum purchases with the arrival of the new iPhone 12 lineup.

Source 9to5Mac

Via Display Supply Chain Consultants

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