Samsung could cut phone production by 30 million units in 2022

Seoul, May 28: Samsung is reported to have reduced the number of phones it plans to produce in 2022 from 310 million to 280 million, citing reports from Korean outlet Maeil Business News. Also Read: PSPCL imposes Rs 72.67 lakh fine on 19 consumers for power theft, violations Although it is quite a large number of phones, but it's a relatively sharp drop from the company's initial goal, as well as the number of reported phones produced by the company and its partners last year. From low-end models to flagships, the lowered production targets will affect phones across its lineup. In a sense, reducing the production of cheap phones sounds counterintuitive. Now, the issues that arise from this are that people might be speculative about buying an apt smartphone for themselves. People in the low-end phone market may not want to buy a new one unless absolutely necessary, as per The Verge. Samsung isn't the only one feeling the effects of an ongoing pandemic. To make things worse, the Russian-Ukraine war has hampered sales after the company had stopped shipping to Russia, along with many other companies. Samsung is also fighting the high risk of rising inflation. Apple is also reportedly expecting relatively flat sales this year as it plans to produce about the same number of phones as in 2021, but it's likely that it's working on a fairly large upgrade. Also Read| Punjab Govt withdraws security cover of 424 persons -PTC News