(9 days left!) Be the first with a 200MP camera! Visit Samsung to reserve and gain $100 in Samsung credit!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung expected to cut phone production by 30 million units this year

Phone
By 

Last updated: May 27th, 2022 at 13:05 UTC+02:00

The post-pandemic global economic recovery has been slower than expected. That has required companies to trim their expectations as inflationary pressures force customers to be more cautious with their money. The ongoing situation between Russia and Ukraine isn’t helping matters, either.

Samsung isn’t immune to these dynamics as well. The company is having to adapt to these challenges as it seeks growth in the smartphone market. A new report out of South Korea suggests that Samsung has decided to cut its phone production by 30 million units this year.

Global economic situation forces Samsung to make the cut

Other companies have reportedly taken similar steps in the face of this challenging economic environment. Apple is believed to have cut its smartphone production for 2022 as well. The company is reportedly cutting production of the iPhone SE by 20%.

The report mentions that Samsung is cutting production targets across its low to mid-end and flagship models. Samsung was reportedly going 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 as it has yet to hit this figure after 2017. However, the global economic situation has dented demand and the company has to react.

Inflation is at its highest in key markets across the globe. This causes people to limit expenditures on items they don’t immediately need. Market analysts expect this to be a major reason why sales of affordable devices may also decline this year.

Join SamMobile’s Telegram group and subscribe to our YouTube channel to get instant news updates and in-depth reviews of Samsung devices. You can also subscribe to get updates from us on Google News and follow us on Twitter.

Phone Samsung Electronics
Load 1 comments

You might also like

Samsung’s new move could make screen replacements costlier in the US

Samsung Display is trying to stop imports of third-party OLED screen replacements for smartphones in the US. The South Korean firm has filed a request with the ITC (International Trade Commission) to investigate the import of third-party smartphone OLED panels for independent repair stores. And this could strike a massive blow to the entire repair […]

  • By Asif Iqbal Shaik
  • 3 hours ago

Samsung signs multi-year 5G patent deal with Nokia

Samsung, the biggest smartphone brand in the world, has signed a multi-year 5G patent agreement with Nokia. As a part of this long-term agreement, the South Korean firm will use Nokia’s fundamental inventions in 5G and other technologies in its smartphones and other mobile devices. Samsung Electronics will make royalty payments to Nokia for its […]

  • By Asif Iqbal Shaik
  • 1 day ago

Samsung launches 4TB version of T7 Shield SSD

Samsung launched the T7 Shield portable SSD eight months ago, and back then, the company made the SSD available in 1TB and 2TB storage capacities. Now, the South Korean firm has launched the 4TB version of the T7 Shield SSD in Germany. The T7 Shield is launching in Germany and will be available in three […]

  • By Asif Iqbal Shaik
  • 5 days ago

Samsung’s World Expo 2030 ad in Switzerland targets 2,700 leaders and top officials

Samsung’s efforts to bring World Expo 2030 to Busan, South Korea, have not ended. And in its latest bid to host the upcoming Expo, the company installed a large digital outdoor advertisement in Davos, Switzerland, right around the celebration of the annual meeting of the World Economic Forum, held between January 16 and the 20th […]

  • By Mihai Matei
  • 6 days ago

Samsung x Ledger bundle announced, may include the Galaxy S23

Samsung Germany and crypto hardware wallet manufacturer Ledger have announced a new partnership with a shared goal: to enable easy and safe buying, selling, and trading on Web3. The two companies have announced the Web3 Starter Bundle, which will go live through Amazon and includes next-generation Samsung Galaxy devices and Ledger hardware wallets. Web3 might […]

  • By Mihai Matei
  • 6 days ago

Samsung was world’s biggest smartphone brand in 2022 as Chinese brands suffered

2022 has been an unpleasant year for smartphone brands. Rising component prices, geopolitical tensions, and supply chain issues troubled all smartphone brands. The overall market dropped 17% in Q4 2022. However, two smartphone brands managed to increase their market share: Apple and Samsung. According to a report from market research firm Canalys, Samsung was the […]

  • By Asif Iqbal Shaik
  • 7 days ago