Samsung Electronics has reduced its TV production capacity by over 11 million units since the beginning of 2015 until the end of September due to weakening TV demand, according to a report from Korea-based Money Today.

As of the end of September capacity reached 33.47 million, down from 44.8 million a year earlier. This represents the largest capacity decline over the last five years. The company expects its capacity to reach 45 million units for 2015, down from 63 million in 2014, which is also another record drop.

TV shipments are expected to see only slight on-year growth in 2015 and 2016, according to various market estimations.