Hard times for Samsung! The company intends to cut smartphone deliveries by 13%

Many companies have been having some hard time due to global reasons. COVID-19 supply chain issue and the bleak economic outlook in several nations have affected even South Korean tech giant Samsung. Samsung, being one of the world's leading smartphone manufacturer, has not been able to sell as many smartphones as it had planned.

Hard times for Samsung! The company intends to cut smartphone deliveries by 13%

According to a new report from Taiwan Economic Daily (via ITHome), the company intends to reduce smartphone shipments in the coming year. According to the report, Samsung intends to cut the number of smartphones it sells in 2023 by 13%, or roughly 30 million units. This is mostly a direct result of the decrease in the cell phone market, due to global reasons mentioned above.

Although Samsung was able to increase its market share in terms of shipments for the third quarter of this year (Q3 2022) in comparison to the quarter that came before it (Q2 2022), the company's overall performance decreased by approximately 8% when compared to performance over the previous year. Many companies have been affected by global shortage problems. Similar sentiments are shared by a number of smartphone component suppliers, including Tongxin Electic, Duntai, Murata, which is based in Taiwan, and Yageo, which is based in Japan.