Samsung has kicked off the year with mixed sales performance across its smartphone lineup. The Galaxy S24 series recorded a significant sales boost, surpassing its predecessor, while the company’s foldable offerings faced a notable decline.
According to data from Hana Securities, the Galaxy S24 series has seen an 18% increase in demand compared to the Galaxy S23 lineup, with all three models achieving higher sales numbers. Breaking it down, the standard Galaxy S24 model sold 12.1 million units, a 15.6% increase over the Galaxy S23, which achieved 10.46 million units. Meanwhile, the Galaxy S24+ experienced an impressive 25.6% growth, reaching 6.77 million units. The Galaxy S24 Ultra also performed strongly, with sales climbing by 16.5%, hitting 15.8 million units compared to the S23 Ultra’s 13.56 million units.
However, it wasn’t all good news for Samsung. Sales of its Galaxy Z foldables saw a 6% decline. The Galaxy Z Flip6 led the drop, with sales falling 14.8% to 2.81 million units, compared to the Flip5’s 3.3 million units. The Galaxy Z Fold6 managed a slight improvement, with sales rising by 9.4% to 2.09 million units, surpassing the Fold5’s 1.91 million units. Despite this, the underwhelming performance of foldables dragged down the global market for folding phones, which witnessed a 33% contraction, as reported by Counterpoint Research.
It’s worth noting that the data spans from January to November 2024, leaving out the typically busy holiday shopping season in December. This period often sees increased sales across multiple price ranges and could offer Samsung additional momentum.
Samsung remains a dominant player in the smartphone industry, and while the Galaxy S24 series demonstrates its continued strength in the flagship bar phone market, the decline in foldable sales highlights challenges in that growing, but competitive, segment. The company’s ability to adapt will be crucial moving forward as it seeks to balance innovation and consumer interest.
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