• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Business

Inflation, Russia-Ukraine War Forces A Cut In Phone Production For 2022

Olagoke Ajibola by Olagoke Ajibola
May 30, 2022
Share on FacebookShare on Twitter

Also On TechBooky

How Digital Transformation Is Changing Customer Experience

5 Reasons Why Bulk Flash Drives Are Essential For Your Business

Apple Becomes First $3 Trillion Market Value Company

EU Approves Microsoft’s Acquisition Of Activision Blizzard

Uber Launches UK Flight Ticket Bookings

Russia-Ukraine war, inflation force Samsung, Apple to cut phone production  for 2022 - Nairametrics

Two out of the world’s leading phone manufacturers, Samsung and Apple, have reached the decision to cut the number of phone production for this year than initially planned as demands decrease. The reports explain this decision is a result of the high inflation and also because of the ongoing unrest between Russia and Ukraine. Russia’s invasion of Ukraine in particular seems to have taken an unexpected toll on the country’s handset market this year.  But let us not forget that before the ongoing unrest between Russia and Ukraine, the COVID-19 pandemic and the global chip shortage have also been contributors to factors not making the smartphone market look good for the past two years.

According to a  Korean publication, Apple will cut its production at low to mid-range prices while Samsung Electronics is said to have cut production not only for mid-to low-end models but also for flagship (high-priced mobile phone) models. The Russia-Ukraine war has taken a toll on the demand for iPhones across Europe. Electronic consumers in Europe are presumed to be less likely to spend money on tech consumables and more likely to save money for food and other supplies. Apple is expected to ship 15-20 million units in 2022, which is lower than the estimate of 25-30 million in previous years.

Earlier in the month of March, Apple announced its plans for a reduction in the production of the iPhone SE. This implied a 20% decrease compared to its original plan for the year 2022. A reason that has been associated with the new decision is the decreasing demand for mid-to-low models due to high prices, and the supply of parts is also being disrupted.

Samsung's reportedly cutting its phone production for 2022 - SRG Blog

The Korean report further quoted an official from a Samsung Electronics partner company revealing Samsung’s move. The official says “Recently, Samsung Electronics received a call to reduce the order volume of smartphones from the current target of 310 million units to 280 million units.” That’s a whopping 30 million short of its initial target units. The electronic giant has reportedly informed its suppliers of the new decision to scale down its order volume halfway through 2022. The source further said Samsung intends to restore the reduced order volume when a new foldable smartphone is released in the second half of this year.

Shinhan Financial Investment has also issued results from the analysis that state Samsung Electronics recently lowered its annual smartphone production forecast for 2022 by about 10% to 270 million units. After producing 300 million units in 2017, Samsung Electronics has stayed in the mid-to-late 200 million range and set a goal of producing 300 million units this year ‘in five years. A researcher at Shinhan Investment Corp, Park Hyung-woo, said that “As of May, a strong inventory adjustment is confirmed.” “Smartphone production in May is expected to decrease by 35% compared to the average in January-April.”

. 

Tags: androidApplebusinesschinaelectronicsgadgetProductionsamsungsmartphonesoftwareUnits
Olagoke Ajibola

Olagoke Ajibola

Olagoke Ajibola is a creative writer and content producer with an eye for details and excellence. He has a demonstrated history of telling stories for TV, Film and Online. Aside from being fascinated by the power of imagination, his other interest are travel, sport, reading and meeting people.

BROWSE BY CATEGORIES

Freshly Squeezed

  • LimeWire’s Unexpected Transformation From Music Piracy To Generative AI September 20, 2023
  • The iPad Is Finally Getting The WhatsApp App – Sort Of September 20, 2023
  • Elon Musk’s Neuralink Gets Green Light For First Human Trial for Brain Implant September 20, 2023
  • iPhone 15 vs. Top Competitors: A Comprehensive Comparison September 19, 2023
  • Elon Musk Says X Is Moving Towards Subscription Fees September 19, 2023
  • Google’s Bard Gets Big Changes, Now Connects To Gmail And Other Services September 19, 2023

RSS More from TechBooky Africa

  • The Best Android Smartwatches of 2023.  September 13, 2023 Eni Emeka
  • “Crypto vs. Taxes” — The Blockchain Association of Kenya Takes on the Government. September 2, 2023 Eni Emeka
  • Chargel Is A Catalyst for Transformation in Cote d’Ivoire’s Energy Landscape. September 2, 2023 Eni Emeka
  • Black Ostrich Ventures’ $20m Equity Funding for Pre-Seed & Other Early-Staged Start-Up Investment Grant. September 1, 2023 Eni Emeka
  • MTN Nigeria Commercial Paper Deal Impact The Gravity Of Adequate Working Capital Equity For Businesses & The Industry. August 31, 2023 Eni Emeka
  • Airtel Uganda Projectile IPO Estimated Worth, Hovers At $215 Million & Above. August 31, 2023 Eni Emeka
  • Bank of Ghana Issued Eganow Operational ePayment Service License, …is Disrupting The Country’s FinTech Industry. August 30, 2023 Eni Emeka
  • Plural AI Opens Shop In South Africa & Nigeria To Track Public Policies. August 30, 2023 Eni Emeka
  • TymeBank is Making Banking More Affordable and Convenient With “Zero Transaction Fee” Via “PayShap” August 30, 2023 Eni Emeka
  • HIGHLIGHTS — Techcrunch Disrupt Equity Battlefield Got Start-ups Pitching Innovative Tech Solutions Per Africa’s Biggest Challenger. August 30, 2023 Eni Emeka

Receive top tech news directly in your inbox

Loading

RSS More from TechBooky Business

  • Instacart’s Strong Nasdaq Debut Sees 12% Stock Surge At Closing Yesterday September 20, 2023 Femi Balo
  • DoorDash To Move Listing from NYSE to Nasdaq September 15, 2023 Femi Balo
  • Arm Holdings Gains Continue On Nasdaq Debut Week September 15, 2023 Femi Balo
  • Oracle Faces Investor Concerns as Q1 Earnings Disappoint September 15, 2023 Femi Balo
  • HP Faces Investor Concerns as Q3 Earnings Fall Short of Expectations September 2, 2023 Femi Balo
  • Klarna Shows Strong Progress Toward Profitability With A 67% Reduction In Losses September 2, 2023 Femi Balo
  • Salesforce Surpasses Expectations With Strong Quarterly Earnings September 2, 2023 Femi Balo
  • OpenAI On Track To Make $1b In Revenue In 12 Months August 30, 2023 Femi Balo
  • BYD’s Remarkable Profit Surge and Electric Vehicle Triumph August 29, 2023 Femi Balo
  • Baidu Reported A Strong Q2 Performance August 29, 2023 Femi Balo

Browse Archives

September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 17,656 other subscribers.

Receive top tech news directly in your inbox

Loading

Popular Tags

AI (307) amazon (96) android (304) app (664) Apple (500) artificial intelligence (332) business (419) china (117) cloud (141) cryptocurrency (164) ecommerce (112) enterprise (257) facebook (482) gadget (498) gaming (177) google (579) government (403) guest post (109) instagram (147) internet (387) ios (262) iphone (220) microsoft (282) mobile (321) new feature (329) nigeria (282) privacy (146) research (134) samsung (153) security (387) smartphone (257) social media (716) software (460) startup (272) streaming (149) telecom (159) tips (351) transport (109) twitter (250) united states (205) users (157) videos (116) website (166) whatsapp (136) youtube (110)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

RSS African Tech News

  • The Best Android Smartwatches of 2023.  September 13, 2023 Eni Emeka
  • “Crypto vs. Taxes” — The Blockchain Association of Kenya Takes on the Government. September 2, 2023 Eni Emeka
  • Chargel Is A Catalyst for Transformation in Cote d’Ivoire’s Energy Landscape. September 2, 2023 Eni Emeka
  • Black Ostrich Ventures’ $20m Equity Funding for Pre-Seed & Other Early-Staged Start-Up Investment Grant. September 1, 2023 Eni Emeka
  • MTN Nigeria Commercial Paper Deal Impact The Gravity Of Adequate Working Capital Equity For Businesses & The Industry. August 31, 2023 Eni Emeka
  • Airtel Uganda Projectile IPO Estimated Worth, Hovers At $215 Million & Above. August 31, 2023 Eni Emeka
  • Bank of Ghana Issued Eganow Operational ePayment Service License, …is Disrupting The Country’s FinTech Industry. August 30, 2023 Eni Emeka
  • Plural AI Opens Shop In South Africa & Nigeria To Track Public Policies. August 30, 2023 Eni Emeka
  • TymeBank is Making Banking More Affordable and Convenient With “Zero Transaction Fee” Via “PayShap” August 30, 2023 Eni Emeka
  • HIGHLIGHTS — Techcrunch Disrupt Equity Battlefield Got Start-ups Pitching Innovative Tech Solutions Per Africa’s Biggest Challenger. August 30, 2023 Eni Emeka

RSS Business Tech News

  • Instacart’s Strong Nasdaq Debut Sees 12% Stock Surge At Closing Yesterday September 20, 2023 Femi Balo
  • DoorDash To Move Listing from NYSE to Nasdaq September 15, 2023 Femi Balo
  • Arm Holdings Gains Continue On Nasdaq Debut Week September 15, 2023 Femi Balo
  • Oracle Faces Investor Concerns as Q1 Earnings Disappoint September 15, 2023 Femi Balo
  • HP Faces Investor Concerns as Q3 Earnings Fall Short of Expectations September 2, 2023 Femi Balo
  • Klarna Shows Strong Progress Toward Profitability With A 67% Reduction In Losses September 2, 2023 Femi Balo
  • Salesforce Surpasses Expectations With Strong Quarterly Earnings September 2, 2023 Femi Balo
  • OpenAI On Track To Make $1b In Revenue In 12 Months August 30, 2023 Femi Balo
  • BYD’s Remarkable Profit Surge and Electric Vehicle Triumph August 29, 2023 Femi Balo
  • Baidu Reported A Strong Q2 Performance August 29, 2023 Femi Balo

Recent News

LimeWire’s Unexpected Transformation From Music Piracy To Generative AI

LimeWire’s Unexpected Transformation From Music Piracy To Generative AI

September 20, 2023
WhatsApp Will Now Allow Improved Preview For Documents

The iPad Is Finally Getting The WhatsApp App – Sort Of

September 20, 2023
Elon Musk’s Neuralink Gets Green Light For First Human Trial for Brain Implant

Elon Musk’s Neuralink Gets Green Light For First Human Trial for Brain Implant

September 20, 2023
iPhone 15 vs. Top Competitors: A Comprehensive Comparison

iPhone 15 vs. Top Competitors: A Comprehensive Comparison

September 19, 2023
Elon Musk Says X Is Moving Towards Subscription Fees

Elon Musk Says X Is Moving Towards Subscription Fees

September 19, 2023
Google’s Bard Gets Big Changes, Now Connects To Gmail And Other Services

Google’s Bard Gets Big Changes, Now Connects To Gmail And Other Services

September 19, 2023
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite