In the wake of the Corona virus crisis, Samsung has cut its target for this year to 30 million smartphones.
The report says that the South Korean company is reducing its production targets.
Samsung announced plans to build 310 million smartphones by 2022, but the company has reduced that number to 280 million.
Since 2017, Samsung has not been able to achieve its target of producing 300 million smartphones annually.
This year, the company had decided to make 310 million smartphones, but the demand for phones declined due to the global economic situation.
Other companies have taken similar steps in difficult economic times.
Apple has also decided to reduce its smartphone production this year.
According to the report, Apple has reduced the production of iPhone by 20% this year.