While some other brands are having impressive sales in October, Samsung Galaxy sales didn’t meet expectations. Smartphone sales last month for the tech giant went down by 8% and this took a toll on the year-on-year (YoY) growth. A major factor that can be the reason behind this decline is the growth of competing brands fighting for a chunk of Samsung’s market.
Last month, the South Korean brand took a 2% month-on-month decline (MoM) and an overall 8% year-on-year (YoY) decline. Over the past few years, sales have not been impressive for virtually all smartphone brands. This is a result of the decline in smartphone demands by buyers due to smartphone component shortages and economic issues in various regions.
However, this year, reports point out that sales are starting to normalize as certain big players in the industry return to the market in certain regions. The availability of smartphone components necessary for the production process is also stabilizing, hence helping to boost availability for more buyers. While some smartphone manufacturers celebrate their sales achievements, Samsung seems to be taking the back seat.
Sales of the Galaxy S23 series are falling short in comparison with the competition. But the flagship series isn’t where Samsung’s power lies, as they control a big chunk of the midrange smartphone market. Yes, the Galaxy A-series maintained its dominance in the midrange smartphone market in October.
The major problem affecting sales is the more expensive flagship entries from the brand. Things aren’t adding up in favour of the Galaxy S and Z series, despite newer releases outperforming their predecessors in sales. Possibly, with the coming Galaxy S24 series launch, sales will see a drastic improvement, hence giving Samsung a stand against the competition.