Apple Reimbursed Samsung $683 Million After Missing OLED Display Targets

Apple reimbursed Samsung 800 billion won ($683 million) to cover the cost of OLED panels after Apple missed a sales target both companies had agreed upon.


Apple originally said it would buy a certain number of the display panels from the South Korean company, but disappointing iPhone sales meant it was unable to live up to the agreement. The payment was made in the second quarter of this year.

The figure, quoted by Reuters, came as Samsung on Friday forecast a plunge in its second-quarter operating profits, but one-off gains like the payment from Apple helped it beat analyst expectations.

Samsung's April-June operating profit likely fell 56 percent to 6.5 trillion won ($5.6 billion), the company revealed in a regulatory filing ahead of the release of its detailed earnings figures in late July. Revenue probably fell 4.2 percent from a year earlier to 56 trillion won ($48 billion).

Samsung is on track to post year-on-year profit declines for a third consecutive quarter, mainly due to a combination of falling chip prices because of a supply glut and U.S. sanctions on Chinese telecom equipment maker Huawei, which has become a key Samsung client.

The U.S.-China trade war is also impacting global chip and smartphone markets, with rising tariffs hitting demand for electronics. In a striking example of the ongoing feud between the two countries, Seoul also cut its annual economic growth target to a seven-year low as exports continued to slump.

Tag: Samsung


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11 weeks ago

Ouch that must have hurt even Apple

They deserve it. Their OLED iPhone pricing is just ridiculous.
Rating: 53 Votes
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11 weeks ago
Drop the prices, Apple.
Rating: 46 Votes
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11 weeks ago
The expected outcome of Tim’s greedy pricing and industrial design stalemate. Try harder, Apple.
Rating: 39 Votes
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11 weeks ago
Good. And I hope their (Timmy & Co) obscene greed backfires even more over time.
Rating: 27 Votes
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11 weeks ago
Make an OLED all-screen iPhone 4S-sized device. Problem solved. Bonus sales for headphone jacks and squarish edges (or maybe iPod Touch thinness).
Rating: 24 Votes
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11 weeks ago
Good, maybe they’ll price them more sensibly next time round. And maybe they’ll start to innovate again, rather than recycling the same design for 3+ years.
Rating: 15 Votes
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11 weeks ago

Drop the prices, Apple.

I was thinking to buy a new iPhone in September but based on current pricing I can’t justify it. **** it.
Rating: 13 Votes
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11 weeks ago

Wow, so many apple haters on these forums. No idea how they get their pleasure from continually wishing Apple the worst.


This thread is mostly ‘lower prices’ not a lot of apple hating imo. Either way, why get your panties in a bunch that some people find fault with Apple?

On another note, I looked up Truro, and dang that looks like a cool little town. I live in Atlanta and theres plenty of very nice spots, but the historic buildings in those little UK towns just blow my mind. Wish I were there and out of this oppressive july heat :)
Rating: 10 Votes
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11 weeks ago

I do hope that's million and not billion


WON not USD
Rating: 10 Votes
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11 weeks ago

And they would still charge u $900 for it. Would u pay $900 for 4 inch oled iphone


I would.
Rating: 10 Votes
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