26.7.2020 | Apple paid Samsung $ 950 million for unremoved displays
Samsung has released its second quarter financial statements, according to which its display division had unusually high profits. Apple paid her almost a billion dollars for unremoved displays.
DSCC and the South Korean portal TheElect.net have claimed that Apple had to pay a record-breaking contractual penalty to Samsung. $ 950 million (more than 22 billion crowns) was a sanction for Apple to remove fewer OLED panels than it ordered in the first quarter of this year.
The reason was the decline in iPhone sales due to the coronavirus pandemic. At that time, factories in China and most Apple Stores around the world closed. Sales thus fell by 8.2%.
Likewise, last year, Apple had to pay $ 684 million (almost 16 billion crowns) to the South Korean company.
Maybe that's why Apple wanted to change the panel supplier to BoE. However, their components did not pass the quality test, so Apple still stays with Samsung.