Thursday, May 23, 2013

Samsung Reports 10 Million Sales of New Phone

Samsung Electronics’ new flagship smartphone, the Galaxy S4, is selling even faster than its popular predecessors.

The company said Thursday that it had sold 10 million S4’s worldwide in less than a month — a rate of about four phones per second. The S4, which competes with handsets like the Apple iPhone 5, went on sale on April 27.

Samsung said the new phone was selling faster than the Galaxy S III, which took 50 days to reach the 10 million mark, and the Galaxy S II, which did not reach that milestone until five months after its introduction.
Hype of this sort is, of course, part of the smartphone competition; last September, Apple trumpeted the fact that it had recorded two million orders for the iPhone 5 in 24 hours, before the phone had even been delivered to retailers.

Still, analysts were impressed that Samsung was showing that it, too, could produce pocket-size objects of desire that spur consumers to rush out and snap them up.

Mark Newman, who follows Samsung at Bernstein Research, said he had estimated a peak of 9 to 10 million monthly sales of the Galaxy S4; the fact that Samsung reached the threshold in a just under a month suggested “further upside for Samsung profits and stock,” he wrote in a note to clients.