Samsung's 2024 goal: sell more higher priced phones and raise its Average Selling Price

Samsung’s 2024 goal: sell more higher priced phones and raise its Average Selling Price،

As we noted above, the Galaxy S23 The series will total 31 million units sold this year, which compares favorably to sales of the Galaxy S21 and Galaxy S22 lines, which both achieved sales of less than 30 million units. Samsung, the world’s largest smartphone maker, is expected to sell 253 million smartphones next year. Analysts note that Samsung and rival Apple have similar goals of shipping around 250 million smartphones in 2024.

Some analysts expect Apple to overtake Samsung in smartphone shipments this year, which would end the Korean maker’s long streak at the top. Besides the Galaxy S24 flagship series, in 2024, Samsung will launch the Galaxy Z Fold 6 and Galaxy Z Flip 6 foldable phones as well as its mid-range A and M series units.

The Samsung Galaxy S23 Ultra is the only premium Galaxy phone to be among the top ten best-selling models in the first half of 2023.

More than 75% of the phones Samsung sells each year are low-cost models, meaning its flagship and foldable models only account for 25% of the phones Sammy ships. As a result, Samsung’s average selling price (ASP) is $295, compared to Apple’s $988. Next year, Samsung plans to increase its ASP by selling more high-end phones like the Galaxy S24 series. The company also hopes to sell more than 10 million high-priced Galaxy Z foldable units next year,

Daniel Araujo, vice president of Samsung’s MX business segment, said: “We expect demand driven by premium products to increase in the smartphone replacement cycle next year. We achieved double-digit growth in annual flagship deliveries and sales growth exceeding the market growth rate. In addition to the objective of selling 10% more Galaxy S24 series next year, Samsung wants to see more of its premium handsets in the list of top ten best-selling smartphones.

According to Omidia, the top ten smartphones in terms of shipments for the first half of this year include:

As you can see from the list, most Galaxy phones, with one exception, are mid-range handsets.