Failing to order enough OLED screens from Samsung, Apple had to pay a fine of nearly a billion dollars (about 850 million euros) to the Korean manufacturer, according to the specialized site Phoneandroid . IPhone sales have dropped significantly due to the closure of its retail space during the health crisis. The American firm did not require the minimum number of screens provided for in the contract, which provided that the Korean manufacturer could be compensated.
Samsung has forecast a 23% increase in profits for the second quarter of 2020 forecasts, according to figures released by Display Supply Chain . The Korean firm's "screens" division is also recording good forecasts.
A fine already paid last year
Apple had already had to pay a fine for the same reason last year. However, this was less significant since it amounted to 600 million euros. This lack of screen orders would be due to insufficient sales of the iPhone XS and XS Max in China, said Presse-Citron . Neither Apple nor Samsung have, however, claimed the amount of this fine. We will now have to wait for the publication of the quarterly results of the American giant, at the end of July, to have confirmation.
This amount paid to Samsung is low compared to what the European Commission has been asking for since the summer of 2016. The EU has however canceled a decision by Brussels asking the American firm to reimburse 13 billion euros.
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