Samsung Tipped To Miss Annual Smartphone Target
Korean analysts predict Samsung will miss its annual smartphone shipment goal of 350 million units. Initially forecasting 320 million, Samsung boost its annual target following strong first quarter performance of 78 million.
According to The Korea Herald, analysts assert Samsung’s annual goal is “far-fetched”, citing lower-than-expected Galaxy S9 sales and reduced performance in China.
Analysts reportedly expect Samsung to ship 73 million smartphones between April and June. By consequence, Samsung Mobile’s Q2 profit is tipped to be notably lower.
Despite a strong start, analysts forecast Samsung to ship 30 million S9/S9+ devices this year – notably the lowest of any Galaxy S smartphones since 2012.
Californian-based Apple has also seen its annual smartphone shipments decline, following increased competition, specifically in China.
Despite this, Samsung’s 2018 goal of 350 million smartphone shipments is more ambitious than previous years.
As per Strategy Analytics‘ data, Samsung shipped 319.8 million smartphones last year, up from 309.4 million in 2016 and 319.7 million in 2015.
The Korean giant is reportedly banking on its first foldable smartphone to further ignite growth.
Commentators expect the device to be priced US$1,500 [or higher], whilst warning of a limited market.