Despite Q1 marking 73.7 million smartphone shipments worldwide and subsequent unprecedented revenue, Samsung are looking to cull the production of their smartphones.

Samsung has reduced its smartphone production target from 310 million to 280 million, with a number of factors that overall have resulted in a lack of demand.

Rising inflation has resulted in reduced spending worldwide, while the Russian invasion of Ukraine and the pandemic have contributed to the chip shortage, making production costs higher.

The lower production estimate will cover the company’s entire range of smartphones, from the budget Samsung Galaxy A12 all the way to the flagship Galaxy S22 Ultra.