Key Points:
- Record Revenue: While Samsung remains on top with consolidated revenues of $51 billion during the first quarter of 2023, a large part of this TV series’ fame can be attributed to the success of the Galaxy S24 models.
- Memory device demand: This is the area where the business will be more attractive to the large number of customers who require high-bandwidth memory products, or advanced memory for generative AI systems for example.
- Market success: Although the Galaxy S24 is currently the market leader in the US, 14% ahead of last year’s model, the strong sales figures have generated optimism about future sales.
The phone business in the United States is a battlefield, and Samsung is sharing the field with tough competitors like Apple and Google. Despite this, Samsung still faces many challenges that are out of their hands at the moment, the company has shown significant success in exporting its first quarter earnings statement.
Via webcast on 09/11/2024, Samsung released consolidated revenues for the first quarter of 2024 that exceeded $51 billion. What is the first thing to be kept in mind to sustain such rapid growth? The Galaxy S24 range launched a year ago was one of the most anticipated and widely advertised smartphones which contributed an impressive $4 billion to its total operating profit.
In addition to being happy with what Samsung has achieved, it is ready to jump on the growing demand by focusing on the development of flash memory devices such as HBM (High Bandwidth Memory) and its more advanced products, which are useful for achieving. AI-powered applications. This forward-looking move is underlined by the company’s upcoming plan to begin manufacturing the next generation 1bnnm 32GB DDR5 product in the same fiscal quarter.
There is no doubt that the Galaxy S24 has grown in the market as its peak sales in the US market were recorded within a three-week sales period of its launch, registering an 8 percent increase in sales compared to its predecessor. Has been. Thus, while the US and the UK grew by 14% and 10 percent respectively, Germany and France saw an excellent growth of 28%. These positive results are a sign that Samsung is on a good track with its mobile brand, yet it still has to solve the major issue, namely replacing the iPhone’s leading position.
As Samsung implements its vision, it turns its attention to other purposes by making automotive/IT and flexible displays which are becoming more and more fashionable but the competition for the TV market is also increasing. The goal of the Galaxy S24 and its success leaves Samsung envisioning high potential for further advancements and innovation in the coming months.
