Apple has to pay a contractual penalty to Samsung again

Apple has to pay a contractual penalty to Samsung again
Samsung Logo |  Moritz Krauss

Apple apparently has to transfer money to Samsung again after ordering too many displays for the iPhone and the sales figures later failed to fill this order. The main culprit here is the iPhone 12 Mini, which was much less popular than expected from customers around the world.

It’s happening again: Apple apparently has to accommodate Samsung Display financially, as reported in South Korean media reports emerges. The background to this is that Apple will need significantly fewer iPhone displays in early 2021 than originally expected. As it is said from industry-related circles, Apple will manufacture around 75 million iPhone 12 units in the first half of 2021, which corresponds to a decrease of around 20%. Samsung Display has to reckon with a decline in orders for OLED panels to around 45 million units in the current quarter.

Apple has to pay again

If a company orders a certain amount of preliminary products in advance, but does not buy them later or only in parts, contractual penalties are due which are intended to compensate the manufacturer for the lost profits. This is exactly what has happened to Apple several times, for the first time in 2019 such a contractual penalty had to be paid to Samsung Display, the following year it happened again when Apple ordered around 100 million panels from Samsung, but bought significantly less than we did in one corresponding message had reported. This time, the fine was correspondingly juicier, Apple recently had to transfer around one billion euros to Samsung.

It is not known how much Apple will have to pay to Samsung Display.
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But the culprit of the misery is well known: the weak demand for the iPhone 12 Mini (Affiliate link) triggered this significant decline.

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