Samsung lowers its smartphone shipment estimates for 2022

Samsung has reevaluated its shipping estimates for smartphones this year, cutting down projections by more than 50 million units.

According to a report from the publication The Elec, the original projections were more ambitious, aiming to ship and manufacture 284 million units from its own production lines, and 50 million units from its various manufacturing partners.

Insiders now say that Samsung has revised those targets aiming for 260 million, and the company has trimmed expectations for October and November to 34 million units.

By comparison, in 2020, which was considered a weak year due to the pandemic, Samsung shipped 250 million units, and in 2021, raised that number up to 270 million units, which is 10 million more than the revised targets for this year. In the years prior, reports say that Samsung has averaged around 300 million units per year.

Inside sources point fingers at the rising inflation costs, supply chain problems and lower consumer demand as the main issues that have forced Samsung's hand.

With the pandemic stabilizing by the end of 2021, Samsung had planned to increase the number of units shipped, but it looks like it might have to wait a while longer.

The downturn of the global economy has hit companies hard, with Nvidia and Intel recently revising their projections in accordance.