Samsung Aims for Record Sales with Galaxy S24, Targeting 10% Growth over Galaxy S23

In a bid to maintain its position as a leader in the smartphone market, Samsung is setting ambitious targets for its upcoming flagship phone, the Galaxy S24. The South Korean tech giant is eyeing a 10% growth in sales compared to its predecessor, the Galaxy S23, with an expected shipment target of 35 million units.

According to a recent report from The Korea Daily, Samsung’s Galaxy S24 series is slated for an official announcement in January 2024. This latest addition to the Galaxy lineup is poised to be the company’s first ‘AI Galaxy Phone,’ a move that showcases Samsung’s commitment to incorporating artificial intelligence into its devices.

The Galaxy S23 series witnessed significant success, with 31 million units sold, indicating a revival for Samsung’s flagship phones. In comparison, earlier models like the Galaxy S21 and S22 fell short of this mark, selling less than 30 million units.

Samsung’s higher shipment target reflects the company’s growing optimism in the smartphone market. Industry insiders suggest that these figures might vary depending on market conditions, but the larger target has been established. In total, Samsung is anticipating the shipment of 253 million smartphones in 2024, which includes the Galaxy S24.

The competition in the smartphone market remains fierce, with Apple being one of Samsung’s main rivals. Analysts predict that both Apple and Samsung are expected to have similar yearly shipment figures of around 250 million in 2024. Some even speculate that Apple might surpass Samsung’s shipments, which could be a concern for the South Korean tech giant that has held the title of the world’s largest smartphone brand for several years.

One key area of focus for Samsung is its desire to sell more high-end Galaxy phones to compete head-to-head with Apple. Currently, over 75% of Samsung phones sold globally are lower-priced models, with an average selling price of $295. In contrast, Apple boasts an average selling price of $988 for its devices. To counter this trend, Samsung is aiming for a flagship smartphone counterattack in 2024 and plans to increase its high-end phone sales. The company’s ambition is to see more high-end Galaxy phones rank among the top 10 best-selling smartphones.

Daniel Araujo, Corporate VP at Samsung MX, 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 is looking to sell over 10 million Galaxy Z series smartphones, signaling its intention to dominate the foldable smartphone market.

Internally, Samsung believes that by incorporating on-device AI and improving its operating system, it can close the gap with Apple. To achieve this, the South Korean firm is rumored to collaborate with tech giants Google and Microsoft to bring AI solutions like Google Bard or ChatGPT to its smartphones, starting with the Galaxy S24 series. In contrast, Apple’s focus is on increasing shipment volumes to boost revenue from its services, such as Apple Music, Apple TV+, and iCloud Drive.

As Samsung sets its sights on a successful launch of the Galaxy S24 and aims for record sales, the smartphone industry awaits the next chapter in this fierce rivalry between two tech titans.

Source: SamMobile

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