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Samsung Display will terminate its contract with Apple and will no longer supply liquid crystal display panels to its long time partner, according to a Korean report.

"We are unable to supply our flat-screens to Apple with huge price discounts. Samsung has already cut our portion of shipments to Apple and next year we will stop shipping displays," a senior Samsung source told The Korea Times.

Samsung Display said that working with Apple no longer results to efficient cash flow, due to the iPhone maker's stiffer supply-chain management structure.

Apple has been lowering its reliance on Samsung-manufactured displays for use in its popular devices (iPhones, iPads) and has been receiving displays by LG Display and Sharp.

On the other hand, Samsung Display has been receiving increased orders for displays used in tablets by Samsung Electronics? handset division and Amazon.

Samsung Display didn't provide panels for Apple's new iPad Mini, which will reportedly have a 7.85 inch screen.