Due to global consumer demand, Samsung, a leading global smartphone manufacturer, has reduced production at its large Vietnam plant.
South Korean employees acted as Reuters sources. global fall. As warehouses and retailers struggle with increasing inventories, production cuts are inevitable.
According to Reuters, U.S. warehouses have flooded and major retailers in the United States have warned about a slowdown in sales. Shoppers are not spending as much now as they did in the beginning of the pandemic.
According to Reuters, one plant worker said that they would only work three days a weeks, while some lines will shift to a four-day week. There is no overtime now.
A manufacturing plant in Vietnam’s northern Province of Tai Nguyen was the hardest hit. It is home to half of Samsung’s smartphones.
Samsung is positive about the demand for smartphones in the second-half of this year. In a recent report, Samsung stated that supply disruptions had largely been eliminated. Demand will either stay flat or grow by single digits.