Samsung Sets Goal to Increase Average Selling Price in 2024

According to a report in Korea Daily (via SamMobile), the manufacturer anticipates that sales of the Galaxy S24 series will surpass those of the Galaxy S23 line. According to the report, Samsung plans to sell 35 million Galaxy S24 series phones in 2023, a rise of more than 10% over the 31 million Galaxy S23 units that are expected to be sold in 2023. The Galaxy S24, Galaxy S24+, and Galaxy S24 Ultra will be presented during a Samsung Unpacked event that is expected to happen in January, which is a little sooner than last year, to help Samsung meet this goal.

 As previously said, sales of the Galaxy S23 series are expected to reach 31 million units this year, which is a positive comparison when considering that the Galaxy S21 and Galaxy S22 lines both sold fewer than 30 million units. According to reports, Samsung, the leading smartphone maker in the world, plans to ship 253 million units in 2019. Analysts point out that the target of rival Apple and Samsung is to deploy over 250 million smartphones by 2024.

According to some observers, Apple is predicted to overtake Samsung in smartphone shipments this year, ending the Korean manufacturer's lengthy reign at the top. In addition to the Galaxy S24 flagship series, Samsung plans to introduce the Galaxy Z Fold 6 and Galaxy Z Flip 6 foldable phones in 2024, in addition to its mid-range A-series and M-series devices.

 Samsung sells about 75% of its phones as low-cost variants annually; this means that just 25% of its phones are foldable and premium models. Samsung's Average Selling Price (ASP) is $295 whereas Apple's is $988 as a result. Samsung intends to increase its average selling price (ASP) in 2019 by marketing more expensive phones, such as the Galaxy S24 series. Additionally, the company plans to sell over 10 million expensive Galaxy Z foldable devices in the upcoming year.

 The MX business segment's Corporate VP, Daniel Araujo, stated, "We anticipate premium-centered demand to increase in the smartphone replacement cycle next year." Our yearly flagship shipments increased by double digits, and our sales growth outpaced the rate of the market." In addition to increasing sales of Galaxy S24 series phones by 10% in the upcoming year, Samsung also hopes to see a greater number of its expensive devices included in the top ten smartphones sold.