Science

Samsung to cut OLED panel production on low iPhone X demand

Samsung to cut OLED panel production on low iPhone X demand”

The iPhone X was Apple's big experiment a year ago alongside the more typical iPhone hardware refresh giving us the iPhone 8 and 8 Plus. Anticipating a demand surge from Apple, the company made a 13.5 trillion won ($12.6 billion) capital investment a year ago, resulting in a 1.5 trillion won increase in depreciation costs in 2018, the Nikkei reports.

Wall Street analysts have been shouting for months that the iPhone X sales were far below expectations.

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Samsung Electronics sharply reduced its OLED display production.

Samsung plans to slash production at its OLED panel plant in response to customer Apple's decision to reduce output of the iPhone X following weak demand, Nikkei reports. Samsung's second-quarter production target is still up in the air, and it could likewise be cut.

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Anticipating strong demand from Apple, Samsung Display had made a capital investment of $12.6 billion last year, which resulted in $1.4 billion jump in depreciation costs in the current year. At the facility dedicated to Apple, the decline will be roughly 50%. Apple's supply chain has countless moving parts, and CEO Tim Cook has previously cautioned investors from paying too much attention to this type of speculation.

For the iPhone X models that are expected to be released this year, Apple has also closed another deal with LG Display so that the company doesn't have to rely on one supplier when it comes to getting OLED panels for its smartphones. More recently, however, there have been various reports that the special smartphone from Apple was experiencing a much serious decrease in its sales after the holiday season was over. Previously, it has been estimated that Samsung itself makes $110 off of each iPhone X sale.

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Evan Niu, CFA owns shares of Apple.



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