Samsung increased its smartphone and tablet production by 13 per cent. year-on-year in the first half of the year

Samsung plans to significantly increase production of its Galaxy series devices this year. According to the latest data, the company expects the total production of Galaxy smartphones and tablets for the first half of 2024 to exceed last year's figures by 13 per cent thanks to strong demand for the new Galaxy S24 series.

Here's What We Know

It is reported that Samsung's total smartphone and operating profit in the first quarter was 10.5% ($26.52bn). The company expects to release 49.9 million devices in the second quarter, up 3% year-on-year. Smartphone revenue is expected to reach $20.87bn in the second quarter, while operating profit is reported to be $2.01bn. There is speculation that total production will reach 114.4 million units for the first half of the year.

However, Samsung may adjust production plans in the second half of the year to avoid oversupply and maintain profitability. In particular, the reduction may affect the Galaxy A and Galaxy Fold and Flip series models. Production volumes will depend on sales of the new Galaxy Flip 6 and Galaxy Fold 6 foldable smartphones.

The company also faces challenges from rising inflation and geopolitical instability, which could affect consumer sentiment and product demand. Despite this, Samsung continues to maintain its leading position in the market by demonstrating steady growth and adapting to changing market conditions.

Source: The Elec