Apple has made a nearly $ 1 billion payment to Samsung for a reason related to its OLED displays.
During the second quarter of 2020, Apple paid Samsung nearly $ 1 billion for not meeting the purchase objectives of OLED panels established in the agreements between the two companies, according to analysts at Display Supply Chain Consultants. The company of the bitten apple, which also will pay $ 25 to some iPhone users, has made this disbursement because it acquired fewer panels than expected for its smartphones during that quarter of the year.
Information that they collect from MacRumors and that reports that Samsung shared a guide on operating income and earnings for the second quarter of 2020 in which he included a one-time gain related to his display business. A payment that is believed to come from the bitten apple company for the reason that we discussed earlier.
“Samsung reported that its estimate of operating profit included a one-time gain related to its display business, according to a report on wsj.com, but did not disclose the amount. Last week, theelec.net reported that the Samsung Display is believed to have received 900 billion South Korean won from Apple. for buying fewer OLED panels than required, but the sources of the DSCC suggest that the payment is closer to the 950 million dollars, “reads the same source.
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Apple bought fewer OLED panels than those set in its agreement with Samsung
It should be noted that during Apple’s fiscal third quarter, calendar second quarter, many retail stores in the United States and in other countries have been closed for several months -even some still remain in that state- which, together with the economic uncertainty, had a great impact on sales. As we have already mentioned, the payment that Apple has made to Samsung suggests that the Cupertino firm did not reach estimated iPhone sales, so it failed to reach the number of OLED panels that Samsung expected the company would need.
Failing to achieve the goal, Apple has had to compensate the South Korean firm with such payment. The bitten apple company is expected to facilitate its earnings for the second quarter of this year at the end of this July, so at that time we can get an idea of how sales of the iPhone and other products of the company were. company. On the other hand, it should be noted that Apple also made a $ 683 million payment to Samsung in July last year after missing the purchase targets for OLED displays due to low sales in China and other parts of the world.
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