Shulou(Shulou.com)11/24 Report--

Despite many signs that the global smartphone market may continue to be sluggish in 2023, South Korea's Samsung Electronics hopes that demand for high-end devices will drive double-digit growth in Galaxy handset sales, which may depend on the Chinese market.

Samsung, the world's largest smartphone maker, recently warned that the smartphone downturn could continue throughout 2023. The company is expected to surpass its peers by focusing on high-quality components, while accelerating expansion in countries such as China that lag behind Apple in market share.

Global smartphone shipments fell the most in a decade in 2022, but the high-end electronics market dominated by Apple and Samsung fared better during the economic downturn. On Wednesday, Samsung unveiled a new version of the Galaxy S23, which is the closest to the iPhone, with a better camera and longer battery life.

"We expect the challenges to continue this year, but we will achieve double-digit growth again," Lu Taiwen, president of Samsung's mobile business, said in an interview before the launch. "even in the face of these challenges, we have expanded our market share in 2022 and will maintain this trend because it is our priority."

Samsung did not raise the price of the Galaxy S23 to attract consumers, despite rising material costs and major camera upgrades. However, there is a big variable in the process of achieving these goals, and that is the Chinese market.

China's smartphone market continues to shrink in 2022, while the timing of recovery is still uncertain. At the same time, Samsung's share of the Chinese market has fallen below 1 per cent in recent years. However, Mr. Lu said Samsung had made significant progress in terms of market share in high-end smartphones.

Samsung is now developing a new strategy focused on high-end devices in preparation for an eventual counterattack.

"in China, we are laying a solid foundation to provide what Chinese customers really want," Lu said. our strategy is to focus on high-end smartphones and we have begun to make some progress. we are gradually laying the foundation for an improvement in the market. "

Smartphones are one of the most important businesses for Samsung, which is looking to use mobile devices to connect a wider range of services, appliances and content ecosystems.

Overall, Samsung can expand its share of the global smartphone sector, Mr. Lu said. Although sales by Chinese smartphone makers fell sharply last year, Samsung's market share rose from 20 per cent in 2021 to 21.6 per cent in 2022, according to market research firm IDC.

Samsung is currently developing a hybrid reality device called the XR. While Apple will launch its own VR / AR Touch Show later this year, Samsung is working on an unannounced project with Google and Qualcomm, owned by Alphabet.

"Apple and Samsung will be better able to cope with continued uncertainty in 2023 thanks to their dominance at the top end of the market," said analysts at Canalys, a market research firm. Samsung is also boosting profitability by strengthening its lineup of high-end products and adding products such as collapsible models, he added.

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