Samsung Excels in Q1 with High-end Galaxy Phones Sales

In the first quarter of this year, Samsung achieved outstanding performance. The S24 series of smartphones released by the company in January has been highly successful globally, breaking pre-sale records in multiple countries. According to CNMO, with the continued release of new high-end phones and steady expansion of market share, Samsung is on track to achieve its ambitious goal of shipping over 50 million high-end Galaxy phones this year.

The latest report from TheELEC shows that Samsung exceeded its planned production of smartphones and tablets in the first quarter of 2024. The actual production reached 65.4 million units, surpassing the initial target of 53 million units by 22%. This figure does not include the number of phones produced by its contractor, Wingtech. It is reported that Samsung plans to ship approximately 253 million units of the Galaxy series this year, with an expected shipment of 51 million units for the Galaxy S series and Galaxy Z series.

Evidently, Samsung has already secured sufficient direct inventory before the launch of the Z Flip 6 and Z Fold 6 foldable smartphones in July 2024. Thanks to the strong sales of the S24 globally and the good performance of other budget and mid-range phones in the Indian market, Samsung has achieved this manufacturing boost.

Meanwhile, Samsung Display, supplying OLED panels for Samsung’s mobile division, is operating at full capacity due to the growth in sales of Galaxy phones and tablets. Reports indicate that Samsung Display’s A2 production line, which mainly produces rigid OLED panels for the A, F, and M series phones, is currently running at 80% peak capacity.