Samsung cuts smartphone production by 30 million units

The smartphone market is in Severe difficulties: After two years of an industry slowdown even before the coronavirus pandemic, the glory days of market expansion and semi-annual updates appear to be over, exacerbated by two years of financial hardship and supply chain constraints.

A recent report from South Korea’s Maeil Business News revealed that Samsung, the world’s leading smartphone maker, has cut production by 30 million units for the year 2022.

The news arrives in one moment in referred to the conflict in Ukraine hindered sales. In March, the company caught up with fellow tech giants Microsoft and Apple by suspending sales in Russia.

And Samsung wasn’t alone, as its moves came after the slowdown hit its American competitor, “Apple”. Apple has cut its iPhone production plans by 20 million units questyear, to 220 million phones.

This is despite the iPhone maker’s ability to withstand successive industry crises over the past few quarters, but the current situation appears to be a perfect storm for an industry that has grown. in explosively over the past decade.

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