South Korean tech giant Samsung may be slowing down its smartphones' production this year by a significant margin due to several unavoidable reasons. In fact, according to a report by South Korean news portal MK, Samsung will be cutting production across all of its various smartphone lineup by 30 million units!
According to the report, the South Korean giant initially planned to produce 310 million smartphones this year but have allegedly cut the plan to 280 million units recently. There are essentially three main reasons as to why Samsung had to lower its production this year.
The first of which is due to rising inflation and its effect on consumer spending. Secondly, the global shortages of chip and other components also played a main factor to Samsung’s decision. Finally, the war in Ukraine is also impacting the global supply-chain, hence Samsung’s decision to cut on its smartphone manufacturing.
The first reason is rising inflation and its effect on consumer spending. Secondly, the global shortages of chips and other components also played a main factor to Samsung’s decision. Finally, the war in Ukraine is also impacting the global supply-chain, hence Samsung’s decision to cut on its smartphone manufacturing.
However, do take this information with a grain of salt as nothing is confirmed as of yet. Nevertheless, cutting down on manufacturing does make sense given the economic climate the world is in right now.
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