According to recent estimates, Samsung is expected to reduce its smartphone production by 30%. It has been hard for companies to stay afloat in the market due to supply chain bottlenecks and financial difficulties.
Maeil Business reports that Samsung will cut manufacturing by 30,000,000 units by 2022, citing the source. This announcement is made amid continuing turmoil in Ukraine, which continues to hinder sales. Microsoft and Apple stopped selling Russian products in March.
Apple also has the same problem. The company claims that it will make another 20 million smartphones by 2022. Starting in 2021, the numbers will be flat.
It is unclear which phones Samsung will cease making in the future. Samsung may continue producing specialized phones. More information about the new phones will be available in the coming days.