As the recession persists, Samsung is reportedly cutting smartphone output.

Samsung is said to have cut its smartphone output for this year by 30 million units, the latest hint that the mobile industry is being impacted by broader economic difficulties.

According to a report in the Korean journal Maeil Business News, the company has decreased its orders from 280 million to 310 million, with the reductions affecting the entire portfolio.

This covers both low-cost models such as the A series and high-end handsets such as the Galaxy S, Flip, and Fold series.

Equity mutual fund schemes predominantly invest in equity stocks. As per current the Securities and Exchange Board of India (Sebi). 

If confirmed, Samsung's decision to reduce manufacturing would be the latest sign of a possible slowdown.

Smartphone sales fell by 12.5 percent in 2020, as businesses shuttered their doors while customers postponed purchases.

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