Samsung appears on track to hit its Galaxy S23 sales target

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Samsung appears on track to achieve its Galaxy S23 sales target this year. The company has reportedly already sold nearly 21 million units of the three models combined. It needs to sell five million more devices in the remainder of the year, with the holiday shopping season still to come. The Korean firm’s foldable smartphones are also selling better than last year.

Samsung achieves a 22 percent jump in Galaxy S23 sales

According to a market estimate by Hana Financial Investment (via @Tech_Reve), Samsung shipped 20.81 million units of the Galaxy S23, Galaxy S23+, and Galaxy S23 Ultra combined in the first seven months after launch. As expected, the Ultra model accounted for almost half of the total sales, with the company moving 9.83 million units of the most expensive flagship off the shelves.

The standard Galaxy S23 is the next most popular model with a sales figure of 7.26 million. Samsung has sold 3.72 million units of the Plus model. Overall, the cumulative sales of the Galaxy S23 series in the first seven months have grown over 22 percent compared to the Galaxy S22 series. The company sold 17.01 million units of its 2022 flagships over the same period after launch.

An estimate from Korea Investment & Securities Co. at the end of August told a similar story. Based on these figures, over two million Galaxy S23 phones have been sold globally in the past month. If Samsung maintains this rate, it will easily surpass its sales target for the flagship trio. The company is said to be looking to sell at least 26 million units of the phones this year. With the holiday shopping season approaching, it might not be a tough ask.

Samsung foldables are selling well too

The new report also gives us estimated sales figures for Samsung’s latest foldables during the first month. The company sold 1.15 million units of the Galaxy Z Flip 5 and 0.64 million units (640,000) of the Galaxy Z Fold 5 within a month of launch. The combined figure of 1.79 million marks a 23 percent growth over the 2022 models. It sold 1.45 million units of the previous-gen foldables in the first month (0.93 million Flip 4, 0.52 million Fold 4).

However, comparing the one-month foldable sales with the Galaxy S lineup, Samsung’s doing worse this year. The Galaxy S23 series sold 2.77 million units in the first month, much more than the new foldables (1.79 million). In 2022, those figures came in at 1.37 million and 1.45 million, respectively. It was a similar story in 2021 as well — 1.1 million and 1.29 million, respectively.

While this may be reflecting the popularity of the Galaxy S23 series, Samsung is facing tougher competition in the foldable market this year than ever. As many as ten companies are now selling foldable phones, with many of them competing against Samsung globally. It remains to be seen whether the Korean firm manages to achieve double-digit sales growth for its new foldables.