Smartphone, TV brands reduce output about 20% after festive sales
Business
Smartphone and TV brands are dialing back production by about 20% after festive season sales didn't take off as hoped.
Stores are left with extra stock, and higher memory chip prices have pushed up device costs, making it tougher for people to buy new phones and TVs, especially in the budget and midrange segments.
Sales down, TV PCBs nearly double
Sales were already down over 10% earlier this year, and now parts like printed circuit boards for TVs cost nearly twice as much.
Jaina Group, a contract manufacturer, says they're adjusting production to match what people are actually buying, hoping things pick up next year.