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Due to the COVID-19 pandemic, several tech makers including Samsung, facing slow-paced sales of their products such as smartphones, TVs, washing machines, microwaves, and more, which eventually decreased their revenue and making them bear losses.

In order to tackle this issue, Samsung and Sony decided to increase the prices of smartphones and TVs by 5-10%, reported by Science and Technology Innovation Board Daily.

According to the report, the cost of material to make the TVs is also hiked by 30-50 percent, which will double the overall selling price of TVs depending on the regions where the consumers are living in.

Why Samsung decided to hike the price?

There are many reasons for the price hike of these devices, but the one is Samsung is facing a shortage of semiconductors (chipsets) used in these gadgets especially smartphones.

For example, the company just faced the scarcity of processors due to its chipset plant in Texas got halted by a winter storm which drastically affected the production of phones and increased the prices of smartphones.

On the other hand, the TV market for Samsung is also facing slow-paced sales due to COVID as no one going to buy TVs from outlets leading to a rate rise.

However, it is claimed from industry insights that these price hike situation will be settled down when the supply chain for the chipsets gets better which somehow not only lowers the prices but also helps to stabilize the business workings globally.

Lastly, it is not the first time for Samsung including other companies to just increase the prices of their electronic gadgets. But as you know, this time the situation is way critical for the market as well as for the consumers and being healthy is way more important than buying TVs for entertainment.

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Samsung expects massive profit boom in Q2 given AI rise

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Samsung 55th shareholders meeting

Samsung today announced provisional sales and profit results for the second quarter. Samsung formally announced the provisional/predicted sales and operating profit, suggesting a massive profit boom in Q2, 2024 given the AI memory semiconductor rise.

In Q2, 2024, Samsung sales provisionally increased by 2.89% and operating profit by 57.34% compared to the previous quarter thanks to AI boom. Besides, the sales climbed by 23.31% and operating profit by 1,452.24% compared to the same period last year.

The company expects sales of 74 trillion won and operating profit of 10.4 trillion won on a consolidated basis. While these results are not final, there won’t be much change in the final result when it comes out. Samsung had a pretty profitable period in the second quarter.

Samsung in Q2

  • Consolidated Sales: Approximately 74 trillion Korean won
  • Consolidated Operating Profit: Approximately 10.4 trillion Korean won

The Korean tech giant is currently facing yield issues in its second-generation 3nm process. The flagship Exynos processor is unlikely to be commercialized this year. It would lead the Mobile business to face additional burdens due to rising prices of Snapdragon chipsets.

Meanwhile, Samsung is focussing on HBM (high bandwidth memory) semiconductors. HBM is a key player in artificial intelligence servers and data centers. The booming AI market will directly benefit Samsung’s semiconductor business.

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Samsung leads Q3 smartphone market, Huawei’s entry haunts Apple

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Samsung Galaxy S23 Ultra Z Fold 4 Beige

Samsung ranked first in market share in the global smartphone market in Q3, 2023. TrendForce report says that Samsung led the global Q3 smartphone market, recording a market share of 19.5%.

Overall production in the third quarter increased by 11.5% compared to the previous quarter to 60.1 million units. During the same period, Apple’s production increased by 17.9% to 49.5 million, thanks to iPhone 15.

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Third place was taken by Xiaomi (13.9%), followed by Oppo (12.6%) and Transion (8.6%). 6th place is Vivo (8%). Meanwhile, global smartphone production reached 308 million units, a 13% increase compared to the previous quarter and a 6.4% increase from the previous year.

Huawei’s re-entry into the flagship smartphone market targeting Apple has had a significant impact in China. Huawei is aiming to expand its high-end flagship series, focusing on the Chinese domestic market next year, so Apple “We plan to attack directly”.

Samsung Q3 2023 Smartphone Market TrendForce

// Source

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Underdog phone brand jumped 50%, Samsung and Apple lost ground

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Samsung 55th shareholders meeting

In Q3 2023, Samsung and Apple’s market share slightly declined, while an underdog Chinese phone brand appeared on the top 5 chart. In a recent development, Canalys published market research data for the third quarter, revealing Tanssion as the fifth best-seller globally.

According to the info, Samsung and Apple lead total sales with 20% and 17% market share, yet both have fallen from their 22% and 18% levels in 2022. However, Tanssion, the maker of Tecno, Itel, and Infinix phones, climbed from 6% global market share last year to 9% in 2023, a 50% jump.

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Apart from this, Xiaomi matched last year’s share only by “recovering” from a terrible first half of 2023. At the same time, OPPO has fallen steadily over the past two years, while fellow BBK brand vivo lost the top-5 slot it’s owned for years.

Overall, the global smartphone market underwent a slight drop of 1% in Q3 2023. Bolstered by regional recoveries and new product upgrade demand, the smartphone market recorded a double-digit sequential growth in Q3, ahead of the sales seasons.

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