The Galaxy S20 series was unveiled in February and the devices went on sale in most of the markets by the end of March 2020. However, the latest flagship smartphone series from Samsung didn’t meet the company’s own sales expectations. Apparently, it couldn’t even reach the sales of its predecessor in the Korean firm’s home market.
According to a new report from Yonhap News, sales of the Galaxy S20 series are hovering below the sales of the Galaxy S10 series. The main reason behind disappointing sales is said to be a lower demand for consumer products amid the COVID-19 pandemic. South Korean mobile carriers claim that the cumulative sales of the Galaxy S20, Galaxy S20+, and the Galaxy S20 Ultra are just 60 percent of the sales of the Galaxy S10 series.
Samsung has not been reporting official sales numbers for the Galaxy S20 series, but it claimed that sales of its latest flagship smartphone series were around 80 percent of the Galaxy S10 sales. Due to weaker-than-expected numbers, Samsung’s IT and Mobile Communications division is estimated to have posted an operating profit of KRW 2.5 trillion (around $2 billion) or lower during Q1 2020. The company will publish its final numbers later this month.
It’s not just Samsung, though. It is being estimated that most smartphone and consumer electronics brands will post lower numbers this year when compared to their last year’s numbers. Market research firm Strategy Analytics revised its global smartphone sales estimates for 2020 from 1.3 billion units to 1 billion units.