Samsung Forced to Reduce Production by 30 Million Smartphones [Leak]

A new special report from a leading Korean tech blog claims that Samsung may have to cut smartphone production dramatically this year.  The report says that Samsung could reduce smartphone production by up to 30 million units in 2022.

The main reasons for this decline are high inflation, low consumer spending and the ongoing war between Russia and Ukraine.  The cuts in Galaxy smartphone production will be evenly distributed across all price segments, from entry-level to flagship phones.

Sources familiar with the matter claim that the Korean tech company originally planned to produce 310 million smartphones annually, but recent developments have forced the party to lower its target to 280 million units.

It looks like Samsung will have to adjust its financial targets despite record-breaking first-quarter revenue and an estimated 73.7 million smartphones shipped globally.

Samsung is not the only phone maker that has been hit hard by the latest developments.  Other big players like Apple are also said to be cutting production with the Cupertino giant, which wants to make iPhone SE models 20% less this year.

However, a previous report claims that Samsung plans to build more units for the upcoming foldable devices, so total production will likely remain higher than last year, but by 2022 it will be lower than planned.