Samsung

Samsung refuted claims that its display business plans to end its LCD panel supply agreement with Apple, sayingwas incorrect.

The Korea Times, citing an unnamed senior Samsung source, said Samsung was taking the step by the end of this year because it "believes its American partner is no longer a cash-generator due to the iPhone maker's stiffer supply-chain management structure."

However, a Samsung spokesman told CNET that the Korea Times post was 100 percent false regarding the comments about dropping Apple as a panel customer.

"Samsung Display has never tried to cut the supply for LCD panels to Apple," the spokesman said.

He added that Samsung is asking the Korea Times to revise its story.

We've reached out to Apple and will update this report when it responds.

Apple and Samsung have had a strained relationship of late, to put it mildly. They have been suing each other seemingly nonstop, with each accusing the other of ripping off its designs. At issue is control of the booming smartphone and tablet markets, areas that are vital for continued growth at electronics makers.

Apple, which previously relied on Samsung to supply many components for its products, has been reducing its reliance on the company. The Cupertino, Calif., company has been sourcing displays from companies like Sharp and LG, and it reportedly plans to have its chips manufactured by a company other than Samsung.

Updated at 6:30 p.m. PT with background information.