Geopolitical Tensions Impact Tech Sector: Samsung Display CEO Warns Rising Oil Prices to Increase Costs for iPhones and Other Devices

Stock News03-12 15:12

Samsung Display, the screen supplier for Apple and Samsung Electronics, stated on Thursday that the conflict in Iran and surging oil prices may drive up energy and raw material costs. Samsung Display President and CEO Chung Yi highlighted that the technology industry is already grappling with soaring chip prices, leading to continuously rising costs for mobile phones, PCs, and other electronic products. The rapid increase in oil prices further exacerbates these challenges. He remarked, "As oil prices rise, the prices of such raw materials will follow suit." He noted that many materials, including films, are derived from crude oil. "If this cost transmission materializes, the burden of expenses is expected to intensify significantly." Samsung Display, a subsidiary of Samsung Electronics, primarily manufactures flat-panel display screens used in Apple iPhones, MacBooks, and Samsung's own smartphones.

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