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Saturday, December 5, 2020

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Apple paid Samsung over $ 700 million in fines

Apple made a payment of 765 million dollars to Samsung. This is a compensation for orders for Samsung OLED panels totaling around 100 million units. The screens would be used to make iPhones.

Unfortunately for Apple, sales have not gone as expected with declining iPhones revenues. As a result, Apple failed to fulfill its part of the contract, leaving Samsung Display at a loss in its exclusive production plants to supply displays to Apple.

Neither Apple nor Samsung made much 'noise' about the situation and the reason for the payment has not been officially confirmed. However, it is more than obvious that Apple simply had to bear the costs, not least because the $ 765 million figure is the loss of Samsung Display.

Apple does not trust Korean suppliers, according to LG

The LG director tried to clarify some controversy related to the production of screens in one of LG's centers. He said Apple did not trust Korean suppliers, forcing LG to act as an intermediary to 'persuade' Cupertino's company to buy displays.

The advantage is that suppliers, through LG and its public relations, get contracts with Apple. The downside is that the same suppliers have to sign contracts with the production center and LG allegedly collected a 'slice' of commission.

The LG director confidently states that the collection of these profits never happened. He also stressed the importance of supply contracts with Apple in the growth of suppliers and technology in the country.

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