Samsung’s 2024 smartphone results were mixed: Galaxy S24 and other flagship sales grew at a double-digit rate, according to Samsung, but global smartphone shipments across the company’s portfolio fell 1.4%. So the forecast of “healthy growth” was right for flagships, not for Samsung’s total worldwide unit sales.
What grew—and what did not?
“Smartphone sales” can mean units shipped to retailers and carriers, devices bought by consumers, revenue, or sales of a particular product line. Those measures are not interchangeable. The clearest broad comparison available here is IDC’s preliminary full-year estimate of global smartphone shipments; Samsung’s disclosures provide separate figures for its flagship range and its wider mobile business.
| Measure | 2023 | 2024 | Change |
|---|---|---|---|
| Worldwide smartphone shipments, IDC preliminary estimate | 1.1641 billion | 1.2388 billion | +6.4% |
| Samsung smartphone shipments, IDC preliminary estimate | 226.7 million | 223.4 million | -1.4% |
| Samsung global smartphone market share, IDC preliminary estimate | 19.5% | 18.0% | -1.5 percentage points |
| Galaxy S24 series and flagship sales, Samsung disclosure | Galaxy S23 generation is comparison base | Double-digit year-over-year growth | Samsung did not publish a full-year percentage in the cited results |
IDC shipment estimates count devices moving into channels, not necessarily consumer purchases at checkout. IDC’s preliminary full-year figures put Samsung second behind Apple. The figures and market context are in IDC’s 2024 smartphone shipment release; estimates can be revised.
What Samsung meant by its growth target
Samsung’s Q1 2024 results said its Mobile eXperience (MX) business would pursue annual growth in smartphone sales, supported by the Galaxy S24 and extending Galaxy AI to existing and new flagship products. Its FY2023 results had specified a narrower ambition: double-digit annual growth in flagship shipments. That distinction matters. A goal for flagships is not a guarantee that every Galaxy phone, or total global shipments, will grow.
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Samsung’s reported MX and Networks revenue also cannot stand in for smartphone revenue alone: the business includes products and services beyond smartphones, including tablets and wearables. Samsung’s public FY2024 results highlighted flagship growth but did not provide a comparable full-year figure establishing that the whole smartphone portfolio grew in units or revenue.
The Galaxy S24 delivered the clearest growth
Samsung reported double-digit year-over-year growth in both Galaxy S24-series shipments and revenue in Q2 2024 and the first half of the year, compared with the Galaxy S23 generation. Its FY2024 results later said full-year flagship sales recorded robust growth, citing double-digit growth for the S24 series. These are Samsung’s reported product results, not an independently disclosed total for all Galaxy smartphones.
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Galaxy AI was part of Samsung’s explanation for the S24’s appeal. Features such as Circle to Search, Live Translate and Chat Assist gave the launch a prominent software story as well as new hardware. Samsung said Galaxy AI usage contributed to sales growth in its Q1 results. That supports describing AI as part of the company’s strategy; it does not establish that AI alone caused the increase.
A regional example shows why geography also matters. Samsung said S24 sales in Spain were 22% higher than S23 sales over the period covered by its June 21, 2024 announcement. The same announcement said the S24 Ultra accounted for 67% of S24-family sales in Spain during the cited period. Those are Samsung’s Spain-specific claims, not global full-year figures.
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Why flagship strength did not lift total shipments
Competition was strongest beyond the premium tier
IDC reported that Chinese vendors expanded aggressively, particularly in low-end and mid-range devices and across China, Asia, Europe and Africa. Xiaomi, for example, shipped 168.5 million smartphones in 2024, up 15.4% from 146.0 million in 2023, according to IDC’s preliminary table. A strong premium launch can coexist with pressure across the broader price range, where unit volumes are substantial.
Premiumization can help value without adding units
More expensive models can support revenue or profitability even when a company ships fewer phones. That is one reason Samsung’s flagship success and its overall shipment decline are not contradictory. But without a like-for-like full-year smartphone revenue figure, shipment data cannot settle whether total Samsung smartphone sales value rose.
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Foldables were not a volume offset
IDC said demand for foldables decreased in 2024 despite promotions and marketing, while vendors shifted greater attention toward AI. That market finding provides context for Samsung’s product mix, but it does not give a Samsung-only foldable sales total.
Launch timing affected quarterly comparisons
Samsung’s mobile results softened after the early-year flagship launch period. Its Q4 2024 MX and Networks revenue was KRW 25.8 trillion, down from KRW 30.5 trillion in Q3, while operating profit was KRW 2.1 trillion versus KRW 2.8 trillion. These segment figures include Networks and are sequential comparisons, not smartphone-only measures. IDC separately estimated Samsung shipments at 51.7 million in Q4 2024, down 2.7% from 53.1 million a year earlier.
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How to judge the “healthy growth” claim
- True for the flagship business: Samsung reported double-digit growth for the Galaxy S24 series and robust full-year flagship sales.
- False for global unit shipments overall: IDC estimated Samsung shipped 223.4 million smartphones in 2024, 1.4% fewer than in 2023, while the global market grew 6.4%.
- Not established for total smartphone revenue: MX revenue includes non-smartphone products, and Samsung did not disclose a comparable full-year smartphone-only revenue figure in the cited results.
- Not safely inferred from one country: Samsung’s reported 22% S24 increase in Spain applies to the period and market in its announcement, not to worldwide annual sales.
Samsung also described the smartphone market as saturated in its 3Q24 interim business report, pointing to software, user experience, AI, security and ecosystem integration as increasingly important alongside hardware. That helps explain the strategic focus, but it does not change the annual shipment result.
Quick Recap
Sources
- IDC’s preliminary 2024 worldwide smartphone shipment estimates
- Samsung Q1 2024 results and MX sales-growth objective
- Samsung FY2023 results and flagship shipment objective
- Samsung Q2 2024 results and S24 growth disclosure
- Samsung FY2024 results and full-year flagship performance
- Samsung Q4 2024 earnings presentation
- Samsung’s Spain-specific S24 sales announcement
- Samsung 3Q24 interim business report
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