[Alpha Biz= Reporter Kim Jisun] Samsung Electronics has set its smartphone production target for next year at 230 million units, over 10% lower than its initial target of 260 million units at the beginning of this year. This conservative adjustment reflects concerns about the global economic slowdown and market uncertainties.

According to industry sources on the 10th, Samsung's Mobile eXperience (MX) Division plans to finalize the production target during its global strategy meeting this month. The division is expected to set the 2024 production goal at approximately 230 million units and share specific business strategies.

Samsung’s global strategy meetings, held annually in June and December, bring together domestic and international executives to discuss key business issues by division and region. These meetings play a crucial role in exchanging business goals and strategies for the upcoming year. Following its recent executive reshuffle and organizational restructuring, Samsung is now focusing on finalizing its business plans for 2024.

The MX Division has reportedly lowered its production target in light of an anticipated further deterioration in the economic and market environment next year. Smartphones, which make up the majority of the division's revenue, are considered premium consumer goods, and demand tends to decline amid economic uncertainty. The adjusted target reflects this outlook.

The production target of 230 million units for next year represents a slight increase compared to Samsung’s projected smartphone sales for this year, estimated at around 220 million units. While 2023 is not yet over, Samsung is on track to achieve this sales volume.

Rather than focusing on sheer production volume, the MX Division is expected to emphasize product innovation and quality management as part of its management strategy for next year. This approach aims to strengthen the company's competitive edge.

Industry insiders also anticipate that Samsung will introduce a "dual-folding" foldable smartphone next year. Reports suggest that development requests for such a device have already been made to its partner companies.

 

 

 

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