Samsung may cut smartphone production by 30M units

According to SamMobile, a report by Maeil Business News indicates that Samsung will be reducing its smartphone production by 10% from its initial goal of 310 million units to only 280 million units this 2022.

The report states that similarly to Apple cutting back on its annual smartphone production, Samsung will follow suit attributing to the post-pandemic economy, rising prices due to inflation, and supply chain issues amidst the Russian-Ukranian war.

Whilst Apple is reported to cut back on low to mid-spec phones such as its iPhone SE by 20%. Samsung on the other hand would be reportedly cutting back on not only its low to mid-end smartphones but its high-end, flagship models as well.