Samsung is raking in around $9.7 bn from one its main rivals Apple, according to a report by the Daily Mail.
The news comes from a ‘well-placed source’ at Samsung who said Apple spends about $9.7 bn on Samsung components for its iPhone and iPad despite being rivals in the consumer market. Furthermore, the source at Samsung said the contract is set to see an increase to $11 bn.
This is mainly due to the fact Apple is supposedly going to launch an iPad Mini with a 7.85-inch screen. But also because it will ship more MacBook Airs with Samsung’s solid state drive (SSD).
On the surface the two firms are bitter rivals with the Galaxy S II fighting against the iPhone and also on the legal side of things with each fighting for injunctions against the others devices around the world. Nevertheless, Samsung seems to be doing alright from the love hate relationship.
The figure that Samsung makes from Apple is set to increase until at least 2014 following a deal made between Samsung and CEO of Apple Tim Cook. The new 2012 version of the iPad was announced by Cook last week and goes on sale this Friday.
The source at Samsung said, "Apple’s top management still believes Samsung is the only parts maker in the world ideally-positioned to meet all of the critical conditions - better pricing, technologically-enhanced products, on-time delivery and the capability to immediately respond to any emergency situation."
Apple’s new iPad reportedly uses Samsung “processors, displays and memory chips”. The ‘retina’ display is manufactured by Samsung, according to the report.