Apple pays Samsung $950 million to cover OLED panel order shortfall
What you need to know
- Apple paid Samsung $950 million.
- That's because it didn't meet obligations on OLED purchases.
- The payment turned Samsung's Q2 from a loss-making to a money-making quarter.
Apple has reportedly paid $950 million to Samsung for failing to meet its OLED purchase obligations.
According to DSCC's Ross Young:
A new DSCC report notes that Samsung beat consensus expectations for operating profits in Q2 of 2020, but that this was only carried by the mammoth payment from Apple.
Ross Young recently stated that contrary to prevalent rumors, their supply chain sources could not corroborate claims that the iPhone 12 Pro would feature a 120Hz refresh display. However, recent reports from EverythingApplePro and Max Weinbach suggest that Apple had not yet made up its mind regarding the decision after 120Hz failed a series of tests on the iPhone 12.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9