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What does understate mean?

Looking for the meaning or definition of the word understate? Here's what it means.

Verb
  1. To state something with less completeness than needed; to minimise or downplay.
  2. To state something with a lack of emphasis, in order to express irony.
  3. To state a quantity that is too low.
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Examples
Theories of neo-colonialism and cultural imperialism often understate the complexity and multifariousness of postcolonial cultural travellings.
Plant managers often willfully understate actual capacity so as to be given easily fulfillable production targets.
It's possible that these writers have a different syntactic frame for the verb understate.
If the consumer price index sometimes overstates inflation, as some have argued, that could understate progress against poverty.
These DPV figures are ballpark measurements that understate the resources behind the major-party candidates.
To say this book caused a sensation is to understate its impact.

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