Recent reports have pointed out that South Korean manufacturer Samsung may potentially be reducing the number of smartphones it creates in the current year by 30 million, as it continues to feel the afterburn of a difficult financial period.
The reports come from within South Korea, which gives them a higher level of accuracy. More specifically, Maeil Business News, one of the nation’s most popular tech publications, claims that Samsung’s smartphone division has been ordered to slow down production of the company’s trademark devices, such as the S22, by 30 million.
This cutdown is mainly due to the loss in revenue that Samsung have been dealing with in the last few months, with the war in Ukraine and higher inflation rates just some of the reasons behind their financial struggles.
And it’s not just Samsung who have been forced to make cutbacks to reduce deficits, as Apple have also slowed down the production of some of their most well-known devices, like the iPhone 13 series. The company have struggled to hit their sales targets, which lead them to the decision to cancel their plans to produce a further 20 million units in 2022.
Based on reports, Apple will create the same number of smartphones as they did in 2021 in their attempt to weather the ongoing storm that the media industry is currently facing. Even though they’re on the verge of releasing the iPhone 14, sales predictions are nowhere near as high as they were for their previous devices, with people no longer flocking to stores and standing in line or crashing online pages for the chance to purchase a shiny new tech product.
