Wednesday, September 25, 2013

Samsung pays Apple $1 Billion in 5-cent coins

Sometime ago, I read about an upset bank customer banking in a large sum of money but in a small denomination, enough to create a hassle for the bank counting the entire amount. Today, someone or rather another party has beat that feat.

Samsung paid Apple $1 billion in 5-cent coins for the fine recently ruled against the South Korean company. 30 trucks arrived at Apple headquarters with the cash.


This happened two days ago (Sep 23).

Initially, the security company that protects the facility said the trucks were in the wrong place, but minutes later, Tim Cook (Apple CEO) received a call from Samsung CEO explaining that they will pay $1 billion dollars for the fine recently ruled against the South Korean company in this way.

The funny part is that the signed document does not specify a single payment method, so Samsung is entitled to send the creators of the iPhone their billion dollars in the way they deem best.

You can read about it here: Samsung pays Apple $1 Billion sending 30 trucks full of 5 cent coins

16 comments:

  1. $1-billion of 5-cent!! OMG, that would be 200-million coins to count!! interesting~~ :D

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    1. Apple can sell as scrap metal, may earn more than 1 billion... Just weigh, no need to count.

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    2. SK, that's actually 20 billion coins.

      STP, I doubt scrap metal value would come up to that sum.

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  2. Two days ago? I thought I read about this a long time ago...or maybe it was a different case?

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    1. I once scolded the lady at the JPJ (Land Transport) counter here. She said no coins (10 sen) to give me back my change so I gave her 80 sen + 10 X 1 sen coins and she said they did not accept 1 sen coins. I asked her: If government agency does not accept the government's own money, who will accept?

      In the end, she dug out 10 sen from her handbag to pay me. @#$%^&*!!!! Obviously expecting me to ask her to keep the change - 10 victims, she would make RM1.00 already. Tsk! Tsk!

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    2. The date is correct per the article.

      I remember reading that one cent coins can be accepted up to a max of two ringgit. Not sure if this is adhered to though.

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  3. Replies
    1. Hello there! Thanks and thanks too for stopping by.

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  4. wakakakakakakkakakakakkakakak....Samsung CEO have got guts!

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    Replies
    1. too bad we cant do it here coz if not mistaken there is a limit set on how much we can pay a transaction using coins.

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    2. I remember reading that we can pay with one sen coins up to a max of two ringgit.

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  5. Don't play play with Samseng oops Samsung

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  6. That's how my 5 sen coin came into place. There is this 'nasty' lady (forgotten the incident) at the ticket counter of State Theatre back in the 70's. To get even with her, Bananaz collected all the 5 sen to pay for a few tickets. Somehow the anger died off and the 'feeling' all the 5 sen coins was so nice to hold in the hands, the collection of 5sen turned into a hobby until today lolz

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    1. Strangely, with the rounding up and rounding down implementation, the 5-sen coins are not so much in use. Did you notice that? I too have a bunch of 5-sen coins which I sometimes use in twos or fours.

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  7. But if you carefully add that up you shall get 5 sen for a change. Bananas RM3.62 + Papaya RM4.01 Total: RM7.63 round up to RM7.65 and Bananaz get to keep the 5sen change (purposely chosen)

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  8. Sometimes they round down to RM7.60 so no need to use that 5 sen. I make it a point to keep at least two 5-sen coins in my purse - adding more such coins to my existing 'collection' is certainly not helping to reduce the pile.

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