Trends in Samsung Mobile Sales in 2024
A recent market research study has revealed a decline in Samsung’s phone sales in 2024, both on an annual and monthly basis when compared to previous periods. Despite this downward trend, the company’s flagship models are showing signs of recovery and are selling successfully. In January 2024, sales decreased by 1% compared to January 2023 and by 11% compared to December 2023, reflecting the overall sales across all price categories.
Focus on Flagship Models
According to Hana Securities, Samsung has scaled back on the sales of budget and mid-range models while succeeding in boosting sales of its flagship devices. In the previous year, 31.11 million units of the Galaxy S23 were sold, representing a 24% increase over the sales of the Galaxy S22 in the prior year. The Galaxy S24 series is also performing well, setting records for pre-orders in many countries.
Increasing Demand for Foldable Devices
Samsung’s foldable phones are gaining traction as well, particularly the Galaxy Flip 5 and Galaxy Fold 5, which have seen increased sales compared to the previous year.
Samsung Sees Mixed Results in Mobile Sales
Samsung is navigating challenging market conditions in 2024, experiencing a notable decline in its overall mobile phone sales, according to recent market analysis. The decline, which has been recorded both year-on-year and month-on-month, highlights a complex landscape for the tech giant as it seeks to maintain its competitive edge in the mobile market. January alone witnessed a 1% drop in sales compared to the same month last year, with a more significant 11% decrease recorded from the previous month.
While the dip in sales raises concerns about Samsung’s performance in the budget and mid-range segments, the company remains buoyed by the robust sales of its flagship series. Hana Securities reports a significant shift in consumer preference towards premium devices, exemplified by the sales figures for the Galaxy S23. The flagship model achieved sales of 31.11 million units last year, reflecting a commendable 24% increase over its predecessor, the Galaxy S22.
The early indicators for the Galaxy S24 series suggest a promising trajectory as the new models have already broken pre-order records in various international markets, signaling strong consumer interest.
Additionally, Samsung’s innovative foldable devices are becoming increasingly popular. The Galaxy Flip 5 and Galaxy Fold 5 models have garnered heightened demand, with sales showing a positive trend year-over-year. This growth in the foldable segment could play a crucial role in balancing the overall sales figures for Samsung, offering a glimpse of resilience amidst broader market challenges.
As Samsung continues to adapt to the evolving landscape of mobile technology, its strategic focus on flagship and foldable models could prove vital in navigating the complexities of consumer preferences and market dynamics in the coming months.
