Samsung Display, a supplier to both the US-based Apple and South Korea's Samsung Electronics, has warned that the Iran war and rising oil prices threaten to increase energy and raw material costs. The President and CEO of Samsung Display, Chung Eui, stated that the rapid rise in oil prices is exacerbating the challenges facing the technology industry, which is already suffering from high prices for electronic chips. This, in turn, is increasing the cost of phones, computers, and other devices. "When oil prices rise, raw material prices also rise. When this becomes a reality, I expect the cost burden to increase significantly," Eei added to Reuters.
