A huge drop in Galaxy S20 sales due to coronavirus
Samsung Galaxy S20 sales figures are at about 60% of those recorded by the Galaxy S10 in its first few weeks on the market, reports Seoul Economic Daily.
Samsung reportedly revealed the poor sales during a conference call with a variety of large Korean securities companies.
“Samsung Electronics’ official announcement will come during the first and fourth-quarter results, but the current sales volume of the S20 is 60%… or even worse,” said one unnamed analyst.
“The figures can get worse as they come out.”
The poor performance has been attributed to a combination of the COVID-19 pandemic’s effect on spending patterns, as well as the high price of these new smartphones.
However, while high prices may play a part in the poor performance of the flagship smartphone range, it is expected that Samsung’s full range of smartphones – from entry-level to flagship – will suffer poor sales performance.
This is because many customers globally are stuck at home in lockdown or are being encouraged to minimise their social interactions.