Samsung to slash OLED panel output as iPhone X slumps

21 February, 2018, 07:52 | Author: Yolanda Murray
  • Apple will halve its iPhone X production target for the first three months of the year to around 20 million units the Nikkei reported last month adding to growing concerns about weak sales of the $999 phone

KitGuru Says: While the iPhone X might be selling slower than expected, the $1000 price tag will keep it profitable over the course of the year.

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

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Samsung Display now plans to manufacture organic light-emitting diode panels for 20 million or fewer iPhones at the South Chungcheong site in the January-March quarter.

Apple typically retains the ability to buy older models, and even the iPhone 6S can be purchased from 2014 on the website. The new target will reduce production at the plant to around 60 percent of the initial plan. The Korean company's previous output goal was 45-50 million units. On a facility that Samsung Display had dedicated to producing panels exclusively for Apple's use, it could see production rates drop to half or less. It means we could see more mid-range Android smartphones with OLED screens in the near future. The reason is Apple's decision to reduce production of its iPhone X model.

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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. Earlier reports had indicated that, rather than continue to rely exclusively on Samsung Display for OLED supplies, the Cupertino firm was looking to hedge its bets and source panels from multiple providers. But the company is still expected to see a profit decline for the first half of the year, compared to 2017.

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