As global smartphone sales keep dropping due to the coronavirus (SARS-CoV-2) pandemic, Samsung reportedly held a private conference call with security analysts this week, presumably to find ways to protect its businesses from the economic fallout. A fresh report from South Korea claims that Galaxy S20 series sales figures have been discussed during the conference call, and they don’t seem very promising.
According to analysts, the Galaxy S20 sold only 60% of what the Galaxy S10 lineup had achieved within the same time on the market last year. Samsung hasn’t revealed exact figures, but it is expected to do so at the end of the quarter. Previous reports had revealed that the Galaxy S20 Ultra is the most popular model of the three, covering 50% of all S20 series pre-orders.
Meanwhile, market watchers have lowered their expectations regarding Samsung Electronics’ performance throughout the year, as global smartphone and PC sales continue to decline. The home appliance, wireless, and display segments are also expected to take a hit. On the bright side, analysts expect the company to maintain its position in the semiconductor market, as DRAM prices should continue to increase along with demand for data center solutions, despite the economic issues caused by the global pandemic.
Samsung Electronics’ market share value has dropped by 1.75%.