Samsung, a major player in the smartphone industry, has already unveiled its ambitious goals for 2024. The renowned South Korean tech giant is determined to sell a staggering 250 million smartphones in the upcoming year. This audacious target signifies Samsung’s commitment to maintaining a prominent position in the highly competitive smartphone market.
Samsung Aims High with Smartphone Sales Target in 2024
The information, sourced from the reputable website The Elec, sheds light on Samsung’s strategic approach. Notably, the company plans not only to bolster its overall smartphone sales. But also to ramp up the popularity of its flagship models.
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In the fiercely competitive smartphone landscape, Samsung faces rivalries from Chinese brands like Xiaomi in Europe and Huawei in China. Apple continues to lead the global market, securing Samsung’s respectable second-place status.
To regain lost profitability, Samsung is leaving no stone unturned. The company has already increased the production of its foldable smartphones by an additional two million units. Currently holding a 20% market share, Samsung aims to secure a more solid footing in the market.
The smartphone industry has seen a gradual downturn since 2019, further accentuated by the COVID-19 pandemic. While most brands, including Samsung, witnessed revenue declines, the premium segment has been an exception. Samsung is keenly aware of this trend and is poised to capitalize on it.
Samsung’s strategy for 2024 revolves around boosting the sales of its premium smartphones, particularly the Galaxy S series and its renowned foldable models. With the Galaxy S24 series set to debut in the first quarter of the year, Samsung has a head start over Apple, which plans to launch the iPhone 16 in September. This advantageous timeline may allow Samsung to solidify its position in the high-end smartphone market.
In conclusion, Samsung’s aspiration to sell 250 million smartphones in 2024 signifies its determination to thrive in the fiercely competitive smartphone industry. By focusing on premium models and strategic production increases, Samsung aims to secure a bright future in the world of smartphones.