Samsung limits smartphone production

Samsung has been the bigest smartphone manufacturer in the world for years. Chip shortages, economic crisis, the war and all other (external) factors notwithstanding. The Korean tech giant continues to do well. However, that doesn’t mean Samsung is completely untouchable. Korean sources claim to know that smartphone production for this year will be scaled down by about 10 percent.

Samsung has been the largest smartphone manufacturer in the world for years. Chip shortages, economic crisis, the war and all other (external) factors notwithstanding. The Korean tech giant continues to do well. However, that doesn’t mean Samsung is completely untouchable. Korean sources claim to know that smartphone production for this year will be scaled down by about 10 percent.

Originally, Samsung wanted to produce about 300 million smartphones this year, and preferably also sell them of course. However, that ambition, reports the Korean economic daily Maeil, has been adjusted downwards. Samsung is now betting on the production of about 270 million smartphones. In addition, the Korean smartphone manufacturer has also lowered its sales targets for this year by about 10 percent, to 280 million.

The reason for this ‘setback’ may be clear. In addition to the aforementioned chip and raw material shortages, the war in the Ukraine also plays an important role. Like most other ‘Western’ companies, Samsung has also turned its back on the Russian market. A country where Samsung had a significant market share. In addition, the war, and all the economic consequences that come with it, such as rising cost prices, are causing the demand for smartphones to fall worldwide.

This tweet about a new version of the well-known Samsung ringtone was, a day before the outbreak of the war in the Ukraine, literally the last ‘achievement’ of Samsung in Russia. Leaving one of the largest smartphone markets is also causing the Korean tech giant to decline production and sales figures.

Youri