Remember when the Note 7 fiasco was supposed to leave a serious dent in Samsung’s bottom line? It probably did cost them billions in the end, but don’t take that to mean that it’s lean times for Samsung right now — if their projections of quarterly revenue prove accurate, they’ll have pulled in more profit than even Apple over the past few months. The best part for Samsung? That same rival might be responsible for the bonanza.
Rumors around this year’s iPhone have suggested that Apple has something big planned for the phone’s tenth anniversary, with new features like an all-display surface and wireless charging both possibilities. It could also have an OLED display, which is where Samsung comes in. Samsung is the only company making smartphone-sized OLED displays at large enough volumes to satisfy Apple’s need, which led to reports that Samsung stood to cash in big from an Apple order.
Despite subsequent reports suggesting Apple was trying to find other suppliers, it seems like Samsung has gotten their money. Samsung is forecasting record profits of $12.1 billion for the previous quarter. That’s a 72 percent increase, with just an 18 percent increase in revenues to $52 billion. The discrepancy makes it look like Samsung charged someone an awful lot for something, and analysts seem to think it is indeed Apple that paid out the nose for the iPhone 8’s OLED displays.
These are just predictions for now. Samsung will report their quarterly earnings later this month, at which time we’ll know a bit more about where all this money is coming from. Provided that forecasts and analyst suspicions are accurate, this would also suggest that Apple will definitely ship the iPhone 8 this year after all, despite earlier rumors that their 10-year anniversary superphone would be delayed until 2018.
Via Business Insider