Not even smartphone production is immune to a volatile market and a fickle consumer base. Samsung, the world’s leading smartphone maker, is ramping production down by 30 million phones for 2022.
The glory days of double digit growth are seemingly at an end. It would be easy to attribute the smartphone’s hardship on the lingering effects of a pandemic, but the industry was headed for a slowdown well before SARS Covid-2. Samsung’s decision to suspend sales of its phones in Russia, in response to the conflict in Ukraine also contributed to the ease-down in phone production.
The broader questions that remain is whether this is a respite following a decade of incredible smartphone sales. Analysts may argue the growth seen by the industry was due to a level off and recent global events are only accelerating what was eventually to come.
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