Samsung is reportedly cutting down the number of smartphones it planned to produce this year from 310 million to 280 million. According to The Verge, the Korean company may not be alone in doing this as other manufacturers are also making the same kind of plans.
Why? For one, the company is no longer operating in Russian markets now, due to the economic sanctions the country faces over its Ukrainian invasion. With lesser customers to supply to, it only makes sense to reduce production.
However, this is not all, for companies that rely on Chinese factories from some of its materials, the COVID-19 lockdowns are affecting its supply chain. Additionally, there is a projection that the economy could get even worse and inflation would keep increasing as well.
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With these data, Samsung is making the reasonable move here. There are even reports that Apple is expecting poor sales later this year when it releases iPhone 14, that is, if the phone even gets here on time.
The cut in production is not restricted to its high-end phones as information out of the company claims that it will be across all its models. There is the fear that customers might just be willing to stick with their year-old devices a bit longer until financial situations improve.
Samsung still plans to release flagship foldable screen smartphones this year, namely: Galaxy Z Fold4 and Galaxy Z Flip 4.
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