Here’s why Samsung may cut smartphone shipments in 2023

Samsung is reportedly planning to cut its smartphone shipments in the year 2023. According to a report from Taiwan Economic Daily (via ITHome), the company may reduce its smartphone shipments by 13% next year. This roughly translates to 30 million units of Samsung phones. The South Korean company has reportedly not been able to sell its estimated smartphone units this year.

Supply chain issues, dull economic outlook and covid restrictions in China – one of its biggest markets are some of the reasons for the missed target. Similar reasons are also responsible for the decline in the global smartphone shipments as well.

Samsung, as per the report, was able to raise its market share in smartphone shipments during the third quarter this year compared to the second quarter. However, when compared year over year, the company saw a decline of about 8%.

Samsung is not the only company which is bearish on the market situation. Japanese component manufacturers Murata, and Taiwanese component manufacturers Yageo, Tongxin Electric, and Duntai are also looking for ways to cut down cost and increase profits.

Samsung’s rival Apple too is reportedly assessing the demand of iPhone 14 Plus citing supply chain issues. As per reports, the Cupertino-based company has reached out to at least one iPhone assembly partner to immediately halt iPhone 14 Plus production. The iPhone maker has also contacted two component suppliers to lower production by up to 90%.

Meanwhile, a previous Reuters report said that the production of Apple’s iPhones could decrease by up to 30% due to tightening COVID-19 curbs in China. Market research firm Trendforce also said that the iPhone maker has cut its iPhone shipments forecasts from the December quarter by 2-3 million units, owing to the troubles at the Zhengzhou plant. The company previously had a target to ship around 80 million units. The waiting time for Apple iPhone 14 Pro and iPhone 14 Pro Max has reportedly also increased from 5 to 25 days. According to Apple Insider, analyst David Vogt from investment bank UBS tracked iPhone availability using data across 30 countries.

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