iOS

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

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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Anton D. Nagy
Anton is the Editor-in-Chief of Pocketnow. As publication leader, he aims to bring Pocketnow even closer to you. His vision is mainly focused on, and oriented towards, the audience. Anton’s ambition, adopted by the entire team, is to transform Pocketnow into a reference media outlet.