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Phones

Report: Apple owes Samsung penalties because iPhones didn’t sell well

By Anton D. Nagy June 26, 2019, 12:00 pm

A report from Korea suggests that Apple is allegedly owing Samsung “hundreds of billions of won” in penalties for not meeting the agreed quota in purchasing OLED displays. One hundred billion won translates roughly to $86 million, but the exact plural number has not been disclosed.

The reason behind this, implies the report, is Apple selling less iPhones than expected or predicted. This lead Apple to require less OLED panels from Samsung, falling short on the volumes agreed up0n.

The report also suggests that Apple is not likely to pay Samsung the penalties in cash. However, Apple could grant Samsung Display extra orders to cover the loss, which could very well mean, as other reports suggest, that it might turn to OLED panels for some of its upcoming laptops.

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