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Wednesday July 15, 2020

Samsung fined Apple $ 950 million for not fulfilling the latter’s contract with OLED screens

For the second time in a row since last June 2019, Apple pays a fine to Samsung because it did not fulfill the contract of OLED screens for the iPhone.

The last financial report of Samsung showed that it collected a $ 950 million from Apple as a fine and the reason is that the latter did not fulfill its pledges to buy OLED screens for iPhone devices in accordance with the contract signed between them.

This will be the second time in a relatively short period in which the American company is fined, bringing the total fines to about $ 1,633 billion, with the calculation of the fine last June 2019, which amounted to about $ 683 million.

With the current damage to the company from this point of view can be attributed to what the world witnessed during the last period of the ban and closed its stores in the wake of the Corona virus pandemic; Which increased the weight of the fine by nearly $ 250 million difference from last year.

And bearing in mind that the past year came in general conditions that included a decline in global phone shipments that hit all companies and smart phone manufacturers, but Apple compensated that with the services sector, which witnessed significant growth and played a major role in increasing its public revenues during the last period.

It is noteworthy that Apple was considering getting OLED screens from several companies during the recent period for iPhone 2020 phones.

Related topics:

Samsung may impose a financial penalty on Apple for not fulfilling the OLED screen agreement

READ ALSO:  Apple develops an antenna from its manufacture to replace instead of the Qualcomm antenna in iPhone 2020 (report)



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