Hold on to that old Galaxy S10 because Samsung's chilling out on the whole manufacturing smartphones thing

Demand for smartphones is way down, which is bad news for Samsung AND Apple.

What's the key learning?

The smartphone industry is under pressure from supply chain issue, the war in Ukraine and the rising cost of living.
Demand for smartphones has decreased as a result.

👉 Background: Samsung's a jack of all trades, but a master of the smartphone. Specifically, the famous Galaxy.

👉 What happened: Samsung is reportedly winding down its smartphone production by around 30 million units - or around 42% of its total production. These same reports say sales are being hammered by the conflict in Ukraine.

👉 What else: Apple's feeling it too, canning plans to manufacture an additional 20 million phones in 2022. This is all bringing up some pretty tough questions about the future of the smartphone industry.

🔔 What's the key learning?

💡 Right now, the smartphone industry is experiencing a perfect storm. We've got the conflict in Ukraine weighing on sales, supply chain constraints and the rising cost of living.

💡The result? People canning their bi-annual smartphone upgrade 📱🚫. And the industry sure is paying for it.

💡 The smartphone market shrank 6% year-on-year in the third quarter of 2021. With both Apple and Samsung slowing down production, that's only gonna get worse.

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Hold on to that old Galaxy S10 because Samsung's chilling out on the whole manufacturing smartphones thing

What's the key learning?

🔔 What's the key learning?

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