Samsung recently introduced its new flagship smartphone lineup, the Galaxy S23. The company has started the pre-ordering of the phone, which has received a positive response from the customers. It seems Samsung expects more from these devices as it targets double-digit sales of the Galaxy S and foldable series this year.
TM Roh, at a press conference held at the Chase Center in San Francisco after the Galaxy Unpacked 2023 event, showed confidence in growing the company’s presence in the global flagship smartphone market with its latest Galaxy S23 series phones.
He expressed that he expects the Galaxy S23 series and the upcoming Galaxy foldable smartphones, which should be Galaxy Z Fold 5 and Galaxy Z Flip 5, to reach double-digit sales compared to last year’s Galaxy S22 and Galaxy Z Fold 4 and Flip 4.
The president of Samsung stated, “We expect this year’s annual sales of both the Galaxy S and foldable lineups to grow globally by double digits compared to last year.” He further added, “Despite the unfavorable economic conditions, our premium strategies will help us lead the market“.
On the other hand, the economic slowdown in the global smartphone market has recently led to a sharp drop in demand. As per market researcher Canalys, annual global smartphone shipments are set to fall 12% to less than 1.2 billion units in 2022.
Samsung smartphone sales were not different. Due to lower smartphone shipments in 2022, its mobile business saw a decrease in the profit earned. Samsung heads to a massive drop in its operating profit for the fourth quarter of 2022 to $351.7 billion, down 16% year-on-year.
It will be worth seeing what effect the Galaxy S23 series has on the customers and the market. Possibly what the company is expecting for these smartphones is right as they come with many worthwhile upgrades be it design or their internals or the software.