Apple paid Samsung USD 683 million after lackluster iPhone sales

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After missed its sales goals, Apple reimbursed Samsung 800 billion to win the cost of OLED displays.
Dipped Samsung’s second-quarter forecast, but some benefits like apple payments helped it to get the best analyst estimates

Last month’s reports began to claim that Apple had imposed a significant amount of penalty for failing to meet its OLED smartphones sales figures. If This report came true and it appears that Apple has won 800 billion rubles or the US $ 683 million because it failed to complete its agreement to buy a certain display panel.

Apple needed a $ 683 million fork in the sale of Torrid iPhone, and according to a Reuters report, Samsung dumped the second quarter forecast, but some special benefits such as Apple Payments helped it to get the best analyst estimates.

Operating Profit of South Koran company’s from April to June is expected to fall down by 56 per cent to 6.5 trillion. The company had shared this information in the regulatory filing before releasing its earnings figures at the end of July. Estimated revenue fell from 4.2 per cent last year to 56 trillion Due to the falling prices of chip and due to the US sanctions on Huawei in China, Samsung can consistently decline the year-on-year profit in the third quarter, which has become a major Samsung customer.
It is also said that “America and China trade war is also affecting global chip and smartphone markets, in which demand for increasing tariff for electronics is sought.

In a remarkable example of the ongoing conflict between the two countries, Seoul threw its annual economic growth target at the grassroots
level as the export continued to decline.

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