Samsung to receive $11 billion from Apple for parts

Apple will probably spend $11 billion on parts sourced through various Samsung channels in 2012 for use in its devices.

This is according to an anonymous Samsung official speaking to the Korea Times.

This wasn’t the only revelation however; the same official noted that Apple is planning to release a smaller iPad device.

“The contract is expected to rise to $11 billion by the end of this year as Apple is planning to release a smaller iPad, probably with a 7.85-inch screen, and to sell more of its MacBook Air PCs using Samsung’s faster solid state drive (SSD) storage,” the source was quoted as saying.

Samsung currently supplies a range of components for various Apple devices, and is reportedly one of the main suppliers of the retina display found in the iPad 3.

Read the full story at: Boy Genius Report.