Demand for Samsung smartphones declined in Q2 2024, the corporate revealed in its newest monetary report. Nonetheless, the Galaxy S24 sequence continued to see sturdy gross sales between April and June, attaining a double-digit progress YoY each in shipments and income (for Q2 and H1), in contrast with the Galaxy S23 lineup.
The total monetary outcomes confirmed a large 1,458% enhance in working revenue on a yearly foundation on account of surging demand for AI reminiscence chips.
| (all models in KRW / USD) | Q2 2024 | Q1 2024 | QoQ Change | Q2 2023 | YoY Change |
| Cellular eXperience Gross sales |
27.38 trillion / 19.95 billion |
33.53 trillion / 24.42 billion |
-18.3% | 25.55 trillion / 18.61 billion |
7.1% |
| Cellular eXperience Working Revenue |
2.23 trillion / 1.62 billion |
3.51 trillion / 2.55 billion |
-36.3% | 3.04 trillion / 2.21 billion |
-26.6% |
| Whole gross sales | 74.07 trillion / 53.96 billion |
71.92 trillion / 52.39 billion |
3% | 60.01 trillion / 43.72 billion |
23.4% |
| Whole revenue | 10.44 trillion / 7.60 billion |
6.61 trillion / 4.81 billion |
58% | 0.67 trillion / 0.48 billion |
1,458% |
Samsung mentioned the quarter is seasonally weak, significantly within the premium section, and that is why it recorded a decline in gross sales. The Galaxy S24 flagships managed to save lots of the day, and regardless of a quarterly decline in gross sales and revenue, the yearly gross sales outcomes of the Cellular Expertise division have been up 8%.
Expectations for the second half of 2024 are that the premium section will develop, however the mass section will decline. Samsung predicts progress in ecosystem merchandise, together with tablets, watches and TWS. This implies we’re prone to see a rise in gross sales of Galaxy Tab S10, Galaxy Watch6 and Buds3 gadgets.
The corporate additionally promised Galaxy AI in tablets, beginning with the Tab S9 sequence, which is the expertise driving ahead Samsung’s gross sales within the premium section.
Samsung Galaxy S24, Galaxy S24+, and Galaxy S24 Extremely
Wanting on the greater image, the enlargement of AI investments resulted in sturdy demand for HBM, standard DRAM and SSD. Expectations for the remainder of 2024 are that demand for server AI will keep sturdy throughout all merchandise, with ramped-up HBM and server DRAM manufacturing.
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