Samsung reportedly failed to hit sales goal for Galaxy S22 and Galaxy Z devices
Sales of the Samsung Galaxy S22 series, the Galaxy Z Flip4 and Galaxy Z Fold4 did not go as well as the company had expected.
The Samsung Galaxy S22 series.
Samsung is said to be losing the sales momentum of its premium smartphones.
Korean publication fnnews claims Samsung is unlikely to hit its sales target of 30 million units for the Galaxy S22 series. Sales of the foldable phones such as the Galaxy Z Flip4 and Galaxy Z Fold4, also fell short of expectations in the U.S and other countries. The new foldable phones reportedly did not garner more than 10% market share in the U.S, Canada, Japan and China.
Sales momentum is not expected to pick up during the holiday season.As the best-selling Samsung phone is the entry-level Galaxy A12, fnnnews says Samsung's premium branding will take a hit.
Demand for foldable phones appears to be slowing down after an impressive growth in 2021. Samsung shared in December 2021 that it shipped 4x more foldable phones compared to 2020. The explosive growth led Roh Tae-moon, the chief of Samsung's mobile business, to predict sales of Galaxy Z devices to exceed that of the Galaxy S series by 2025.
It remains to be seen if Samsung will adjust its sales target for 2023. The South Korean company plans to sell 270 million phones next year and embark on a new strategy from selling as many entry-level devices as possible to selling more premium devices such as the foldable phones.
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