Former Samsung Manager Reveals Role in Leaking Apple iPad Production Data

primary global research logoBloomberg reports on the recent testimony of former Samsung manager Suk-Joo Hwang, who has revealed his role in leaking secrets on volumes of iPad displays being shipped to Apple as part of an insider trading trial targeting Primary Global Research executive James Fleishman. Fleishman was one of four insiders charged last year with leaking Apple secrets through so-called "expert networks" such as Primary Global Research, which paid industry insiders to provide confidential information and then traded on and sold the information to their own clients.

Hwang, who has been granted immunity, detailed how he provided information to Fleishman on iPad display shipments in December 2009, before the product had been introduced.

Hwang said that during lunch at a restaurant in Mountain View, California, with Fleishman and a hedge fund manager he identified as “Greg,” he gave them confidential information about Samsung’s shipment of liquid crystal display screens it was supplying to Apple. The iPad made its U.S. debut in April 2010, four months after the lunch.

“One particular thing I remember vividly was that I talked about the shipment numbers of Apple, it was about iPad,” he said. “This is in December 2009, before it came out with the tablet PC, they didn’t know the name then, so I talked to them about the tablet shipment estimates in that meeting.”

Hwang notes that he immediately "freaked out" about disclosing the information, feeling that he had spoken too loudly in the restaurant and wondering whether a man at a nearby table who may have overheard the conversation was an Apple employee.

Hwang worked on the side as a consultant with Primary Global Research until August 2010, with his consulting fee having been raised from $200 an hour to $350 in February of that year after he expressed reservations about continuing to provide information following a promotion at Samsung. Hwang was fired by Samsung several months ago as the insider trading scandal unfolded.

Back in July, one of the other insiders charged in connection with the case, Flextronics executive Walter Shimoon, pleaded guilty to leaking iPhone and iPad secrets to Primary Global Research.

Popular Stories

ios 19 messages app

Apple Sues Jon Prosser Over iOS 26 Leaks

Thursday July 17, 2025 8:40 pm PDT by
Earlier this year, YouTuber Jon Prosser shared multiple videos showing off what he claimed to be re-created renderings of what was then presumed to be called iOS 19 and which was eventually unveiled by Apple as iOS 26 at WWDC in June. In his first video back in January, Prosser showed off a Camera app redesign with a simpler set of buttons for moving between photo and video modes, and he...
iPhone 17 Colors

All 15 New iPhone 17 and iPhone 17 Pro Colors Revealed in Latest Leak

Wednesday July 16, 2025 6:50 am PDT by
We may finally have a definitive list of all color options for the iPhone 17 series, ahead of the devices launching in September. MacRumors concept In a report for Macworld today, Filipe Espósito said he obtained an "internal document" that allegedly reveals all of the color options for the upcoming iPhone 17, iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max models. The report includes ...
iOS 26 on Three iPhones

Here's When to Expect the iOS 26 Public Beta

Tuesday July 15, 2025 11:07 am PDT by
Apple previously announced that a public beta of iOS 26 would be available in July, and now a more specific timeframe has surfaced. Bloomberg's Mark Gurman today said that Apple's public betas should be released on or around Wednesday, July 23. In other words, expect the public betas of iOS 26, iPadOS 26, macOS 26, and more to be available at some point next week. Apple will be releasing...
iPhone 17 Pro Dark Blue and Orange

Ranked: The Best Features Rumored for the iPhone 17 Lineup

Wednesday July 16, 2025 4:17 pm PDT by
We have just under two months to go until the debut of Apple's iPhone 17 models, and rumors have been ramping up in recent weeks. We went through everything we know so far, pulling out the most exciting rumors and highlighting some other changes that aren't going to be so great. Top Tier Ultra Thin iPhone 17 Air - The iPhone 17 Air is 2025's most exciting iPhone rumor, because it's the...
Foldable iPhone 2023 Feature Homescreen

Foldable iPhone's Thickness and Price Range Detailed in New Reports

Wednesday July 16, 2025 11:31 am PDT by
Apple's long-rumored foldable iPhone will likely have a starting price between $1,800 and $2,000 in the U.S., analysts at investment banking firm UBS said this week. If so, the foldable iPhone would cost more than a MacBook Pro, which starts at $1,599. With a starting price of at least $1,800, the foldable iPhone would be the most expensive iPhone model ever released, topping the Pro Max at...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro Coming Soon With These 16 New Features

Friday July 11, 2025 12:40 pm PDT by
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are only two months away, and there are plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models. Latest Rumors These rumors surfaced in June and July:A redesigned Dynamic Island: It has been rumored that all iPhone 17 models will have a redesigned Dynamic Island interface — it might ...
Apple Watch Ultra 2 Complications

Apple Watch Ultra 3: What to Expect

Sunday July 13, 2025 10:30 am PDT by
The long wait for an Apple Watch Ultra 3 is nearly over, and a handful of new features and changes have been rumored for the device. Below, we recap what to expect from the Apple Watch Ultra 3:Satellite connectivity for sending and receiving text messages when Wi-Fi and cellular coverage is unavailable 5G support, up from LTE on the Apple Watch Ultra 2 Likely a wide-angle OLED display that ...

Top Rated Comments

kdarling Avatar
181 months ago
It may surprise people to learn how corrupt some parts of Samsung are. They represent around 10% of South Korea's GDP last time I checked. They are a very powerful entity.

If you think they're badly corrupt, you've obviously never lived in New Jersey :)
Score: 6 Votes (Like | Disagree)
sportsfan Avatar
181 months ago
Can you read?

$350 a month - I can't believe it! I don't know how much that "research" firm charged hedge fonds for this kind of information but how naive was that manager? Selling his career for a little bit of petty change? And then even make it official with a "consultant" contract? Oh my goodness - that is almost pathetic - no wait - that IS pathetic. If I would ever do something like that - and I worked for companies with such kind of trade secrets - I would a) not do that over the books b) not meet anywhere near where other employees of any involved company might possibly be and c) get one huge sum in cash. The only problem: I have a too high level of integrity to even do that from the get-go. :D

"Hwang worked on the side as a consultant with Primary Global Research until August 2010, with his consulting fee having been raised from $200 an hour to $350 in February of that year after he expressed reservations about continuing to provide information following a promotion at Samsung. Hwang was fired by Samsung several months ago as the insider trading scandal unfolded.
"
Score: 3 Votes (Like | Disagree)
Gasu E. Avatar
181 months ago
Who really cares... Even with all the "android copycats" and other knockoffs of Apple products, they are killing the so called competition...

Apple stockholders and anyone else who trades legally in Apple stock should care. Inside traders steal from them.

----------

oh okay... reading educates... :o but still, he does get that how often? Once a meeting, maybe for 2h per meeting? That is still not worth the risk since he is paid as "consultant." :D

Like any consultant, he would be billing for time "worked", gathering and analyzing data; not just the time presenting information to his clients. It could be hundreds of hours a year. I assume he is not an idiot, and was charging enough to be compensated for his risks.

----------

If you think they're badly corrupt, you've obviously never lived in New Jersey :)

I just looked at a couple of maps-- the Korean peninsula and NJ actually look pretty similar.
Score: 2 Votes (Like | Disagree)
macnews Avatar
181 months ago
Who really cares... Even with all the "android copycats" and other knockoffs of Apple products, they are killing the so called competition...

This is all about insider trading and nothing at all about competition between iOS and Android. The hedge fund manager was looking to make millions from hedging probably for Apple. Many people expected something was in the works but to have proof not only it existed, but also the expected numbers would be significant information to properly hedge the stock. Millions, if not hundreds of millions made in seconds.
Score: 2 Votes (Like | Disagree)
BornAgainMac Avatar
181 months ago
"...spoken too loudly in the restaurant and wondering whether a man at a nearby table who may have overheard the conversation was an Apple employee."

That is scary. Those Apple employees are dangerous. Nobody in that restaurant would have been seen again. They could use Apple employees in military operations. :eek:
Score: 2 Votes (Like | Disagree)
propea Avatar
181 months ago
iPad Pro.
Score: 2 Votes (Like | Disagree)