As we are well aware of the situation we handled together for the last 2 years, pandemic recovery was as slow as the company has expected.
Looking at the current situation, the Korean tech giant Samsung has decided to cut its phone production by 30 million units this year – says SamMobile report.
For your information, Samsung is not only the company to do this, other companies like Apple also doing the same. Yeah, one report suggests that the company is reportedly cutting production of the iPhone SE by 20%.
So What’s the target?
To take a note, Samsung previously decided to produce 310 million units of smartphones in 2022 but it has now decided to cut that back to 280 million units.
The company had initially aimed to produce 300 million units in 2022 but it has yet to hit this figure after 2017. However, the global economic situation has dented demand and the company has to react. Market analysts expect this to be a major reason why sales of affordable devices may also decline this year.