Samsung Pins Its Hopes On AI To Sell Galaxy S24, Forecasts 35M Shipments In 2024

Samsung Electronics Co Ltd. SSNLF is pinning its hopes on AI to ship a record number of Galaxy S24 units in 2024. The company has projected a 10% shipment rise to 35 million units.

What Happened: Samsung has set a target shipment volume of 35 million units for the upcoming Galaxy S24 series, marking an increase of over 10% from the Galaxy S23 series, which saw a shipment volume of 31 million units, reported The Korea Daily.

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The Galaxy S24 series is expected to feature a plethora of enhancements over the Galaxy S23, along with a significant emphasis on AI.

The target shipment volume outlined by Samsung exceeds Galaxy S23 series sales by well over 10%, presenting a greater challenge than the goals set for its Galaxy S21 and S22 series.

Emphasizing the AI capabilities of the Galaxy S24, Samsung plans to integrate on-device generative AI technology into key functions such as photographs, messages, and voice recognition. There is also speculation about the inclusion of ChatGPT or Google Bard into the device.

Apart from this, Samsung is also focusing on its foldable line, setting a production target of 10 million units for the Galaxy Z Fold 5 and 8.2 million units for the Galaxy Z Fold 6. Samsung’s ultimate goal is to ensure that one out of every three flagships is a foldable model.

Why It Matters: A previous report says that Samsung has announced plans to introduce AI technology to its Galaxy smartphones during its Q3 earnings call.

The company seems ready to capitalize on generative AI and ChatGPT, the hottest buzzwords of 2023, with its next flagship, Galaxy S24.

Moreover, another report suggested that Samsung is planning an early launch for the Galaxy S24 series, possibly slated for Jan. 17 in the US. This move is seen as a strategic effort to take on Apple Inc. AAPL’s iPhone 15 series.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.