Samsung Invests Mind-Boggling $9 Billion On The iPhone
In an ironic turn of events, Samsung has lent a hand to its most bitter rival and it is spending $9 billion to do that. The Korean conglomerate is investing the huge amount on its OLED production which will benefit Apple particularly its upcoming iPhones.
The news came all the way from South Korea where a local news site reported that Samsung Display will be spending a total of 10 trillion Won which translates to roughly 8.9 billion U.S. Dollars. "The Investor" said that the money will go to the expansion of the company's OLED production.
The investment is seen as a result of Apple's shift to OLED technology after years of going with LCD. With Samsung controlling over 95 percent of the market for OLED, Apple had no other recourse than to get its rival as a supplier. Apple is not the only company looking to shift to OLED. A number of Chinese companies are also considering the use of OLED screen for their high-end devices giving Samsung more reasons to pursue its $9 billion investment in OLED technology.
According to BGR, the two tech giants have agreed on at least a couple of contracts for Samsung to supply OLED displays to Apple. In fact, Samsung is scheduled to receive $4.3 billion as payment for the 60 million or so OLED displays that Apple has ordered.
News of Apple getting Samsung to produce OLED displays for its iPhones has been around since last year. It was previously rumored that the 5.8-inch iPhone will sport an AMOLED screen also courtesy of Samsung. More recent rumors, however, say that OLED will be the screen of choice for the next flagship iPhone. Whatever the case, Samsung will surely benefit from the 10th year anniversary iPhone and possibly other Apple smartphones down the road due to its dominance n global display shipments.
Cult of Mac reported that Samsung Display owns 23 percent of the displays smaller than 9 inches shipped around the globe in 2015. Japan Display followed with 16 percent while LG cornered 14 percent of the market. Samsung figures to continue its dominance of the field especially with its $9 billion investment in OLED production which includes building a facility for the sole purpose of manufacturing OLED and AMOLED screens.
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