Samsung says smartphone demand decreased sequentially in weak quarter

In Mobile Experience division, the company states: “Smartphone demand decreased sequentially in the seasonally weak quarter, particularly in the premium segment. We recorded a decline in sales largely due to the base effect of launches of new models in the first quarter. However, the S24 series continued to see strong sales and achieved double-digit growth YoY in both shipments and revenue for 2Q and 1H. Profitability declined slightly in the quarter from rising prices of key components, but we kept it in the double digits for 1H despite persistent pressure.” In Mobile Experience Outlook for the Second Half of the year, the company states: “In smartphones, we expect the premium segment to grow, but the mass segment is likely to slow. We also expect to see growth in ecosystem products, including tablets, watches, and TWS. We plan to drive revenue growth by expanding sales of flagship smartphones and ecosystem products. In foldables, we will enhance the durability, battery life, and camera and promote the Galaxy AI experience, thus solidifying our global leadership. The S24 series will maintain its growth momentum on the back of sustained marketing efforts. We will provide the Galaxy AI experience in tablets, starting with the Tab S9 series, and continue the momentum in premium sales. In wearables, we target the super-premium segment with the release of Watch Ultra; and offer innovations in TWS and advanced health experiences with the Galaxy Ring. Overall, we will strive to secure solid profitability through optimizing product specifications, including component communization and standardization, and pursuing operational efficiencies.”