Apple supposedly paid Samsung a $950 million charge for not buying enough OLED panels

Apple may’ve paid a charge of around $950 million to Samsung Display for stopping working to acquire sufficient OLED panels to satisfy its agreement, according to a report from Display Supply Chain Consultants, found earlier by MacRumors. The reported payment might imply that Apple didn’t satisfy predicted iPhone sales, as a lot of the tech giant’s retailers have actually been closed as an outcome of the coronavirus pandemic, so it didn’t buy sufficient OLED panels from Samsung.

Neither Apple, nor Samsung instantly reacted to an ask for discuss the report.

Samsung’s recently-released assistance for earnings and operating earnings for the 2nd quarter of 2020 revealed that it had actually exceeded expectations for running revenues, according to the DSCC report. The sales were driven by companies needing more server memory chips to accommodate the working-from-home rise amidst the pandemic. 

Earlier this month, Samsung saw a little drop in Q2 sales regardless of the one-time gain. Apple is supposedly set to reveal its Q3 profits at the end of the month.