In a remarkable display of performance, Samsung achieved outstanding results in the first quarter of this year. The S24 series smartphones, unveiled by the company in January, saw unprecedented success globally, breaking pre-sale records in multiple countries. According to CNMO sources, with the continuous release of new high-end smartphones and steady expansion of market share, Samsung is poised to march towards its ambitious goal of shipping over 50 million high-end Galaxy smartphones this year.
The latest report from TheELEC indicates that Samsung exceeded its manufacturing targets for smartphones and tablets in the first quarter of 2024. The actual production reached 65.4 million units, surpassing the original goal of 53 million units by 22%. This figure does not include the number of phones produced by its contractor, Wingtech. Samsung plans to ship approximately 253 million units of the Galaxy series this year, with an estimated shipment of 51 million units for the Galaxy S series and Galaxy Z series.
Evidently, Samsung ensured sufficient direct inventory before the launch of its two foldable phones, the Z Flip 6 and Z Fold 6, in July 2024. This manufacturing boost was fueled by the strong sales of the S24 globally and the impressive performance of other budget and mid-range phones in the Indian market.
Simultaneously, Samsung Display, the supplier of OLED panels for Samsung's mobile division, is operating at full capacity due to the growth in sales of Galaxy smartphones and tablets. Reports suggest that the A2 production line of Samsung Display, primarily responsible for producing rigid OLED panels used in A, F, and M series phones, is currently running at 80% peak capacity.
