Even though Samsung is the largest smartphone maker in the world, it is not exempt from the pressure that the market as a whole has been experiencing. According to a recent source, Samsung is getting ready to lower its production projections, with up to 30 million fewer smartphones being produced in 2022.

According to the Korean website Maeil Economic Daily , Samsung has informed its partners that it will reduce smartphone production for the rest of 2022. Samsung had originally anticipated producing about 310 million smartphones in 2022, but that number has now been reduced to about 280 million.

Notably, Bloomberg claimed the previous day that Apple would not expand production this year and had planned to create 220 million iPhones. According to market predictions, there should be 240 million units this year.

The same general justifications underlie Apple’s and Samsung’s restrained production plans this year. Samsung attributes a significant portion of its reduced production to the ongoing rise in inflation, particularly given how this affects consumer spending on new items. Additionally, the continuing chip and component shortage continues to have an impact on everyone from Samsung to Apple, which restricts output. And finally, the market has been impacted by the uncertainty surrounding the conflict in Ukraine and the ensuing economic problems in Russia.

Samsung held 24% of the worldwide smartphone market just last month, which was the company’s best first quarter in more than five years, according to Strategy Analytics reported . But at the same time, shipments of smartphones had dropped by 11% year over year. The strong demand for the Galaxy S22 series was cited as a major factor in the report’s success, according to a director at Strategy Analytics:

According to our estimates, Samsung shipped 75 million smartphones and had a respectable 24% market share in the first quarter of 2022. Since 2017, this is the vendor’s best first-quarter market share performance. The recently released flagship Galaxy S22 series had high demand, particularly for the more expensive S22 Ultra variant.

According to the Maeil Economic Daily report, researchers predict that Samsung would see slow sales of low- to mid-range smartphones due to the market’s difficulties. The Galaxy Z Flip 4 and Galaxy Z Fold 4 are the company’s most significant upcoming launches, accounting for less than 10% of Samsung’s revised projection.

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