Samsung Sets High Expectations for Galaxy S24 Sales
After a few years of struggling to produce hit smartphones, Samsung regained its momentum with the Galaxy S23 series, and now the South Korean company is setting high expectations for the upcoming Galaxy S24. According to a report from The Korea Daily, Samsung is aiming to sell 35 million units of the Galaxy S24, which is 10% higher than the sales target for the Galaxy S23 series. The company plans to announce the Galaxy S24 in January 2024, and it will be their first “AI Galaxy Phone.”
In comparison, the Galaxy S21 and Galaxy S22 sold less than 30 million units each, while the Galaxy S23 managed to sell 31 million units. Samsung has also revealed that it expects to ship a total of 253 million smartphones in 2024, including the Galaxy S24.
It is worth noting that these shipment targets may be subject to change depending on market conditions. However, Samsung remains determined to achieve its larger shipment target. Analysts predict that Samsung and Apple will have similar yearly shipments in 2024, with both companies reaching around 250 million units. Some even expect Apple to surpass Samsung’s shipment figures, which could be a cause for concern for the South Korean tech giant, as it has held the title of the world’s largest smartphone brand for several years.
To counter the dominance of lower-priced models, Samsung aims to sell more high-end Galaxy phones. Currently, over 75% of the company’s smartphone sales worldwide come from lower-priced models. Analyst reports show that Samsung’s smartphone Average Selling Price (ASP) is $295, while Apple’s ASP is $988. Samsung has set 2024 as the year for its flagship smartphone counterattack, planning to sell more high-end devices and secure a spot in the top 10 best-selling smartphones list.
Samsung’s Corporate VP, Daniel Araujo, stated, “We expect premium-centered demand to increase in the smartphone replacement cycle next year. We achieved double-digit growth in annual flagship shipments and sales growth exceeding the market growth rate.” Additionally, Samsung plans to sell more than 10 million Galaxy Z series smartphones.
The company believes that integrating on-device AI and improving the operating system will help close the gap with Apple. To achieve this, Samsung will reportedly collaborate with Google and Microsoft to introduce Google Bard or ChatGPT to its smartphones, starting with the Galaxy S24 series. On the other hand, Apple aims to increase shipment volumes to boost revenue from its services such as Apple Music, Apple TV+, and iCloud Drive.
In conclusion, Samsung is expecting big things from the Galaxy S24, setting a target of 35 million units sold. The company aims to sell more high-end smartphones to compete with Apple and plans to integrate AI technology to improve user experience. It will be interesting to see how Samsung’s flagship smartphone performs in the highly competitive market in 2024.
