After the fundamental, the global economic recovery is slower than expected. The world’s leading smartphone makers such as Samsung Electronics have kept their hands on it. Samsung also decided to reduce mobile phone production by 2022.
Samsung is currently unaffected by the dynamic situation. According to The Verge, Samsung is reducing its mid-range and flagship smartphone production targets for 2022. Samsung previously planned to produce 310 million smartphones but is now reducing its target to 280 million.
In early 2022, the South Korean giant was targeting 300 million units of production, but until then, the process to achieve that goal is ongoing. Raw material and packaging prices exceed spending limits, but prices for these products are rising. According to market analysts, the company has found only one way to limit device production.
The decisions above are strong enough to turn economic conditions on or off. I wish Samsung had calculated all the risk factors before making such a decision. But low-end people don’t have to worry about this situation. Because if you have limited pennies in your pocket, you won’t increase your budget and buy instead.