Samsung declined to comment on the news that production will fall by 30 million units in 2022.
Even before the pandemic began, the industry was already showing signs of slowing growth, the report said. The glory days of market expansion and twice-yearly upgrades seem to be over, and supply chain constraints and other factors have only made things worse in the last two years. The combination of all these factors is causing handset makers to scale back production.
In fact, in addition to Samsung, Apple is also affected. A recent report suggested that the iPhone maker may cancel plans to produce another 20 million phones by 2022. The company is likely to produce the same amount this year as in 2021, the report said. The reports come after iPhone sales have bucked macro trends in many industries in previous quarters, but the company may lose that luster even with the arrival of the iPhone 14.
