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Report: Samsung to slash OLED panel production as Apple slashes iPhone X target

Samsung Electronics Co. Ltd. plans to reduce production of organic light-emitting diode, or OLED, panels following reports that Apple Inc. is lowering the production target of its iPhone X by about 50% in the first quarter, the Nikkei Asian Review reported.

Samsung Display now intends to manufacture OLED panels for 20 million or fewer iPhones during the quarter ending March 31, as opposed to a prior estimate of 45 million to 50 million iPhones. The OLED production target for the second quarter is yet to be determined, the report added.

Overall, the production at the South Chungcheong site will fall to 60% of what was originally planned. The company is seeking more orders from other customers to offset the impact, Nikkei noted.