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This is the system. Apple had to pay Samsung for weak iPhone sales

18.07.2020 0 Comments

This is the system. Apple had to pay Samsung for weak iPhone sales

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And pay a lot of money.

Apple paid Samsung compensation for poor iPhone sales. As analysts from Display Supply Chain Consultants have found out, Samsung received a payment of $ 950 million from Apple for failure to fulfill the partnership agreement.

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Under the agreement between the companies, Apple was to purchase a certain number of OLED displays for the iPhone from Samsung. However, due to weak iPhone sales amid a difficult epidemiological situation in the world, Apple had to cut production of new iPhone models. As a result, Apple did not need all of the display panels previously ordered from Samsung.

In compensation, Apple paid Samsung a forfeit of $ 950 million. According to experts, the penalty could have been even greater, but Apple still bought some of the display panels from Samsung.

Earlier it became known that Samsung will remain the main supplier of OLED displays for new iPhone models. The Korean manufacturer will supply screens for the flagship iPhone 12 Pro and iPhone 12 Pro Max.

Source: MR.

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