Samsung Electronics reduced TV production capacity globally by 10 million units in the first half of 2015 and is expected to decrease by another 10 million units in the second half of the year for a total of 42 million units, down from 62.99 million in 2014, according to Korea media reports.

According to Money Today, Samsung reduced capacity to 21.36 million in the first half of 2015, down from 31.31 million a year earlier. The reduction, plus plans to further reduce production in the second half, will bring the company's total capacity to around 42 million in 2015.

The report said uncertainties in the global economy coupled with increased competition in the TV segment led Samsung to make the decision. The vendor also hopes to improve its earnings from the TV segment.

In addition to the 31.8% on-year capacity reduction in the first half, the report said Samsung only produced 19.42 million, down 26.8% on year.

Fellow TV vendor LG Electronics' TV production capacity meanwhile dropped 5.6% on year in the first half of 2015 to 17.49 million, with only 12.09 million TVs actually produced to represent a 19% on-year decline, the report noted.