South Korea-based Samsung Electronics Co is going to reduce the production of OLED screens for iPhone X due to slowing demand for the expensive Apple's smartphone.
Earlier, Samsung planned to make OLED panels for 45 million to 50 million iPhones in the January-March quarter, now it plans to produce only 20 million screens or fewer. Apple will downgrade its iPhone X output target for the first three months of the year to around 20 million units.
It is expected that Samsung's display division will report a decrease in profits for the first quarter. Last year, the corporation invested 13.5 trillion won ($12.6 billion) in this direction, expecting an increase in demand for screens from Apple.