Samsung Success: Record-high ASP, Revenue Growth, and Profitability

Samsung Success: Record-high ASP, Revenue Growth, and Profitability

In a remarkable feat for Q1 2024, Samsung surged ahead, shipping 60.0 million smartphones and achieving a record ASP of $336 USD, propelled by the groundbreaking Galaxy S24 series.

In the first quarter of 2024, Samsung regained its position as the leader in the global smartphone market, surpassing Apple, with a total shipment of 60.0 million smartphones. Despite experiencing a slight 2% year-on-year decrease, Samsung's smartphones achieved the highest-ever average selling price (ASP) of $336 USD, marking the eleventh consecutive quarterly increase, primarily attributed to the popularity of the Galaxy S24 series.



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Driven by a flagship-focused strategy, Samsung witnessed a 6% year-on-year growth in smartphone wholesale revenue, reaching $20B. Despite challenges posed by rising component prices, the company effectively managed manufacturing costs through supply chain optimization, maintaining a double-digit profit margin.

Log in to the Platform now to read our full analysis on Samsung’s record high ASP, including key financial metrics, and strategies employed to mitigate the effects of cost increases. Don't miss out on understanding Samsung's position in the global smartphone market and its plans to address future challenges.

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