Weakness in smartphone sales worldwide leads Samsung to cut production – PhoneArena

Reuters is reporting that Samsung’s huge smartphone manufacturing center in Vietnam has seen a sharp drop in handset production because of a current slump in global smartphone sales. The slowdown is part of an overall decline in consumer spending worldwide and has left the manufacturer with bulging inventory that it will need to get rid of, possibly by dropping prices. The report notes that major U.S. retailers like Best Buy and Target are expecting sales to continue to sputter as state-side consumers have started to feel the weight of a weakening economy.Samsung reportedly cuts its production of smartphones amid worldwide economic weaknessWarehouses in California are filling up with clothing, electronics, furniture, and other goods from across the Pacific Ocean. Samsung recently said that it expects flat smartphone sales or single-digit growth at best for the second half of this year. The Samsung factory in Thai Nguyen, Vietnam churns out 100 million phones a year. Two factories in that country are responsible for half of Sammy’s annual smartphone production.According to several workers at the Thai Nguyen factory who spoke with Reuters, business is not good. Last year at this time, business was booming. But now, these employees say that they have…
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