Samsung Galaxy S10 series is off to a great start in terms of sales. Ming-Chi Kuo, Analyst at TF International Securities and widely known for his Apple supply chain insights, is increasing the 2019 shipment estimates for the smartphone. In a recent investor note, Kuo says he is increasing the sales estimate from 30 million to 35 million units to 40 million to 50 million units. The increase translates to an increase of around 30 percent, giving solid ground to Samsung’s newest Galaxy in the flagship segment.
Kuo notes that the preorder demand for the Samsung Galaxy S10e, Galaxy S10 and Galaxy S10+, is “better than expected” and is now increasing the total shipment estimates. Samsung and Apple, two leaders in the mobile world, saw their shipments decrease in 2018, and most analysts said that the decline is due to increase in their price. People are also holding onto their smartphones for a longer duration than ever before, which increases the refresh cycle and leaves smartphone makers with lack of growth in sales of newer models. However, the Galaxy S10 series does not seem to have been affected by those issues.
“We believe that the better-than-expected shipment momentum of S10 series is due to (1) the market’s bearish view on high-end smartphone growth, (2) spec differentiation from iPhone models, including an ultrasonic fingerprint on display (FOD), rear triple-camera, and bilateral wireless charging, (3) much better-than-expected demand in China market, and (4) trade-in programs,” Kuo said in an investor note obtained by CNBC.
Samsung has been losing ground as the leader in smartphone market due to its dwindling prospects in China. The Korean firm is not even among the top five players in the world’s biggest smartphone market. While Kuo says Galaxy S10 shipment has been better-than-expected in China, he does not expand on company’s prospects in the market, where even Apple is seeing decline in growth and shipments. For Samsung, the fact that Galaxy S10 is doing well in China could be a much needed boost to refocus its energy there.
Watch: Samsung Galaxy S10 Series First look
Samsung has just started rolling out the Galaxy S10 series around the world. The flagship smartphones went on sale in India for the first time today. With the Galaxy S10 series, Samsung has produced its most advanced Galaxy smartphone yet. The devices feature faster processor, larger battery and support for new features like 5G support and ultrasonic in-display fingerprint sensor. The Galaxy S10+ and Galaxy S10 5G feature triple and quad rear camera setup allowing for flexibility in your photography.