Samsung’s earnings were likely hit by Huawei but boosted by Apple

Samsung’s profits got a boost from an unlikely

Samsung’s earnings were likely hit by Huawei but boosted by Apple

Curated via Twitter from The Verge’s twitter account….

According to analysts speaking to Reuters, Samsung was reimbursed about 800 billion won ($684 million) by Apple because the US company, which uses Samsung’s OLED screens in its iPhones, missed a sales target that had been agreed upon.

Samsung Electronics expects its second-quarter operating profit to have more than halved from a year previously, falling about 56 percent to 6. 5 trillion won ($5. 56 billion), according to earnings guidance released by the company today.

Samsung doesn’t provide full explanations along with its earnings guidance, but analysts suggest the Huawei crackdown could have had a significant impact on Samsung’s critical chip business.

Link to original article….

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