Apple had to pay nearly $1 billion penalty to Samsung; here’s why

Samsung’s earnings: Premium smartphone manufacturer Apple has had to make a nearly $1 billion one-time payment to Samsung Display! A report by Display Supply Chain Consultants (DSCC), published on Monday, stated that the earnings of Samsung were better than expectations due to Apple’s one-time payment of $950 million for purchasing fewer OLED smartphone panels. The report was looking at the guidance report released by Samsung.

The report said that Samsung had earlier reported that its operating profit would include a one-time gain in relation to its display business arm, but had not disclosed the amount. Another report then stated that the South Korean company had received 900 billion South Korean Won (approximately $750 million) from Apple. However, the DSCC said that its own research suggests that the amount paid by Apple is closer to $950 million.