IT House June 27 news, according to SamMobile reports, the global economic downturn has led to a decline in demand for products in most industries. It was previously reported that Samsung is slashing smartphone production.
Other parts of Samsung’s business are now facing similar pressures. Samsung is reducing production orders for its smart TVs and home appliances, according to a new report.
Reports from South Korea, citing industry officials, said Samsung is cutting production of its smart TVs and other home appliances. The company had to make these adjustments due to the tough global economic situation and slowing consumer demand. Uncertainty from the conflict in Russia and Ukraine also weighed on demand.
Market research also shows that Samsung’s inventory turnaround time in Q2 this year averaged 94 days. That’s two weeks more than last year. Inventory turnaround time is the number of days it takes for a product in inventory to be sold to a customer. With shorter inventory turnaround times, the manufacturer’s cost burden is reduced. Samsung data shows that these products are selling at a much slower pace than before.
A similar trend has emerged in Samsung’s smartphone business. A recent report mentioned that Samsung has a backlog of 50 million unsold smartphones sitting at dealerships. That’s about 18% of Samsung’s estimated total smartphone shipments in 2022. Samsung has reportedly cut phone production by 30 million units in 2022.
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- 2022-06-27After cutting 30 million mobile phones, it is reported that Samsung will cut production orders for smart TVs and home appliances
- 2022-06-01Samsung produced 12 million smartphones in May, down 20% year-on-year
- 2022-05-16Samsung executives say “do not build cars”: do not want to compete with customers, when the supply chain is more profitable
- 2021-09-24Samsung strengthens Asian supply chain: wants to build factories in many places to recruit workers
- 2020-09-07Samsung is about to close its only TV factory in China, leaving only home power plants and semiconductor factories
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