38.6c New Delhi, India, Wednesday, April 24, 2024

Apple faces nearly $ 1 billion penalty for ordering too few OLED screens from Samsung

By Manthan Pandit      18 July, 2020 04:15 PM      0 Comments
Apple faces nearly $ 1 billion penalty for ordering too few OLED screens from Samsung

Apple has reportedly charged Samsung a penalty of nearly $1 billion for failing to buy OLED displays as requested. Samsung Display is the main OLED supplier to Apple for its iPhones. 

It was claimed earlier that Apple had paid Samsung about $745 million for failing to meet the purchasing demand for the OLED display. Yet a recent Display Supply Chain study says the liability was only around $950million.

This payment also allegedly boosted Samsung's Q2 revenue with the company estimated to have received a "one-time gain associated with its display business"

Samsung hasn't disclosed the number, but Apple's penalty is estimated to close in at $1 billion. This payment also helped to reverse the loss to a profit for Samsung Display.

Anything like this is not the first time it has happened. Apple too faced a cost last year for not purchasing Samsung's OLED panels as agreed. Apple reportedly charged Samsung some $684 million last year as a penalty.

Weak demand and sales due to Covid-19 are expected to result in Apple not meeting the requirement for OLED panels.

Apple is also expected to move from Samsung Display to China's BOE Tech as its largest iPhone 12 series OLED supplier. Its expected that Apple will launch four iPhone 12 models with 5 G support this year. OLED displays are officially available on all four 5 G iPhones.

Share this article:

Leave a feedback about this

Trending Judiciary
Denying child care leave to working mothers of disabled children violated constitutional mandate: SC

Supreme Court of India rules denying child care leave for mothers of disabled kids violates constitutional rights.

23 April, 2024 11:15 AM
Trending Environment
Ignorance is not bliss: Okhla Waste to Energy Plant needs to be relocated, residents argue

Questions on the suitability of waste-to-energy plants in Delhi are not new, but the 2,000 tonnes per day Waste to Energy (WTE) plant, situated in the middle of the dense residential areas around Sukhdev Vihar, is not just a major environmental worry but an example of how siting rules can be bent to accommodate a heavily polluting enterprise.

23 April, 2024 12:29 PM


Trending Judiciary
PIL filed by Ashwini Kumar Upadhyay in SC for 3-yr Bachelor of Law degree after Class XII

PIL by Ashwini Kumar in SC seeks to shorten law degree to 3 years post-Class XII, citing current 5-year span as irrational.

18 April, 2024 11:21 AM
Trending Executive
Centre sets up high-powered committee to suggest measures to end discrimination against queer community [Read Order]

Centre forms committee to end discrimination against the queer community, chaired by the Cabinet Secretary, following a Supreme Court directive.

18 April, 2024 12:11 PM
Trending Judiciary
After Karnataka HC, Delhi HC sets aside Government circular banning 23 'ferocious' dog breeds [Read Judgement]

After Karnataka High Court, the Delhi High Court has set aside a Government circular banning 23 'ferocious' dog breeds.

18 April, 2024 01:06 PM
Trending Judiciary
For wrong decision of suicide by person of 'frail mentality', who is to be blamed? Delhi HC gives view [Read Judgment]

If a man of 'frail mentality' takes the wrong decision to commit suicide, who is to be blamed? Delhi High Court gives a prima facie opinion in the matter.

18 April, 2024 03:23 PM


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email