According to a new report from a renowned South Korean newspaper, Samsung will produce 30 million fewer smartphones in 2022. The three main drivers of the decline in production are rising inflation and consequent consumer spending, the ongoing shortage of components. and the war in Ukraine. Samsung is expected to adjust production for all price ranges of entry-level to flagship devices.
Samsung originally planned to produce 310 million smartphones by 2022, but the latest developments have forced the Korean tech conglomerate to reduce its target to 280 million units. Despite record first quarter revenues and an estimated 73.7 million smartphone shipments globally, Samsung will need to adjust its targets. Other big players like Apple are also reportedly cutting production with Cupertino looking to make 20% fewer iPhone SE units.
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