Not buying enough OLED panels as promised, Apple paid a fine of nearly $ 1 billion to Samsung

Tram Ho

According to a report from Display Supply Chain Consultants , Apple recently paid a large sum to Samsung for not buying enough OLED panels compared to the deal. It is known that this number reaches 950 million USD, or nearly 22 trillion VND.

Last week, Samsung released its financial statements for the second quarter of 2020, showing that the company’s operating profit included a “one-time profit” from Samsung Display. Although the Korean manufacturer did not specify why it received the aforementioned increase, this is said to be the amount that Apple had to “pay” for failing to meet the target and buying less OLED. than expected.

Không mua đủ tấm nền OLED như đã cam kết, Apple nộp phạt gần 1 tỷ USD cho Samsung - Ảnh 1.

Besides, the report also said that “payment from Apple has helped Samsung turn the situation, from losses into profits”. Samsung Display’s revenue declined 7% year-on-year, but operating profit increased 23% and the figure is much higher than market analysts’ estimates.

In the second quarter of this year, most of Apple’s stores were closed due to the effects of the COVID-19 pandemic. In addition, many countries around the world also fell into “recession”, leading to the decline in iPhone sales. Therefore, Apple cannot sell enough smartphones and buy a new OLED platform, as agreed with Samsung.

Không mua đủ tấm nền OLED như đã cam kết, Apple nộp phạt gần 1 tỷ USD cho Samsung - Ảnh 2.

Of course, this is not the first time Apple has faced sanctions from Samsung for not buying enough OLED panels compared to the deal. In July 2019, the company spent more than $ 683 million on Samsung because it bought too few OLED panels, due to poor iPhone sales in the Chinese market.

If you don’t know, Apple usually deals with suppliers on the minimum number of orders to be able to import components at the best price. However, if the company fails to reach that minimum purchase price, it will have to pay penalties to component manufacturers as promised.

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Source : Genk