The smartphone industry is getting hit pretty hard by the current COVID-19 pandemic. Even Android’s top OEMs aren’t immune to its overarching economic impact. Amid the current coronavirus outbreak, Samsung’s latest and greatest smartphones could be missing projected sales numbers by a long shot.
According to a recent report by Seoul Economic Daily, the Samsung Galaxy S20 lineup has only reportedly sold about 60% as much as the S10 series did last year. Those figures could get even worse by the time the South Korean company releases its official earnings report at the end of the quarter.
We don’t know how the rest of the company’s handsets are doing yet, but the Galaxy S20 line appears to be doing slightly worse than the global average. The other day we reported that smartphone end-user YoY sales plummeted by 39% last month, while shipments declined 38% YoY. With Samsung’s Galaxy S20 line looking like it will fall at least 40% short, the current global Android champion is getting hit particularly hard.
Samsung reportedly held an informal private conference call with several major security companies this week to address the situation. Apparently, market analysts expect Samsung’s overall stock market performance to continue declining, and the company has already seen a 1.75% decrease in market share value.
Samsung’s global PC, display, and home appliance sales are also expected to decline as the year goes on. On the other hand, the company’s semiconductor sales should continue their current upward trend as the demand for data center solutions increases.
Samsung declined to comment when contacted by Android Authority regarding this news.