Samsung will cut 30 million smartphones, close LCD panel business

Samsung will reduce smartphone output by 30 million units in 2022. Maeil Business Story reported the news after Apple announced plans to cut iPhone SE manufacturing by 20 million this year. 

Samsung Display may stop making LCD panels because it can't compete with rivals.

The major cause is the crisis in Russia and Ukraine, pandemic attempts, supply chain troubles with microchips, and global inflation fears.

The tech giant had a good first quarter, making the 310 million production target promising

especially with the revised appearance  and performance of the Samsung Galaxy S22 series smartphones.

Samsung and many other firms, including Apple, have lowered their 2022 production objectives to stay relevant and avert losses. 

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