According to SamMobile, which cites a source from Korean publication Maeil Business News, Samsung’s is reducing the number of phones it plans to produce in 2022 from 310 million to 280 million. In absolute terms, that’s still a large number of phones, but it’s a significant drop from the company’s original target. There appears to be a pattern among manufacturers of expecting the economy to deteriorate before improving.
Samsung’s isn’t the only corporation dealing with the impacts of a lingering pandemic, the Russia/Ukraine conflict (which has forced the company, along with many others, to cease exports to Russia), and rising prices. Apple is likewise expected to have relatively flat sales this year, as it plans to produce around the same amount of phones as it did in 2021, despite the fact that it is likely working on some significant enhancements.