iPhone XS standing

Apple refunds $ 683 million to Samsung for less than expected sales

Of the two, one: or the Apple I had a very high expectation for the sale of the XS and XS Max iPhones, or the sales of the company’s top-of-the-line smartphones really were very low.

I say this because, during the second quarter of this year, Apple reimbursed 800 billion wons (about $ 683 million) Samsung after failing to reach the sales target for OLED screens that both companies had agreed on.

In other words, Apple originally said it would buy a number of displays from the South Korean giant, but the disappointing sales of the new iPhones XS and XS Max did not contribute to the fulfillment of that agreement.

The figure, released by Reuters, was announced today by Samsung, which predicted a drop in operating profits in the second fiscal quarter – however, some one-off gains like Apple’s helped to beat analysts’ expectations.

Forecasts also pointed out that, between April and June this year, Samsung’s operating profits fell 56%, to 6.5 trillion wons (~ US $ 5.6 billion). General revenue must have fallen by 4.2% over the previous year, reaching 56 trillion wons (~ US $ 48 billion). Official figures will be released later this month.


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via AppleInsider