Samsung is hoping to sell more than 60 million units of its upcoming Galaxy S8 smartphone, far more than its previous generation of flagship devices, according to a report.
The South Korean tech giant, which continues to be the the world's largest supplier of smartphones, has requested suppliers manufacture enough components for 60 million units, an anonymous source told the Investor, adding that the release schedule, typically held in March, has now been postponed until mid-April.
The shipment goal stands much higher than that for previous models in recent years. The Galaxy S7 managed to ship 48 million units, while the S6 and S5 managed 45 million units each. Samsung has struggled to build on the success of earlier models, with the company's biggest selling Galaxy phone, the S4, setting a record of 70 million units sold. The Galaxy S3 was similarly successful, shipping 65 million devices.
"As the release date of the S8 has been postponed to mid-April, Samsung seems to have set a more ambitious goal than before to make up for the loss caused by the Note model, which has so far led Samsung's smartphone business every first quarter," said an industry source, speaking to the Investor.
It is currently unclear whether Samsung will be able to hit its targets for the latest Galaxy flagship phone, as the significant dent to profits following the Note 7 recall and added pressure in Chinese markets may hamper any plans for a comeback.
However, Samsung has been bolstered by its semiconductor and display business in recent months, leading to a higher than expected fourth quarter result in 2016, ending on a 9.2 trillion won operating profit. Some of this unexpected growth was also attributed to a successful marketing campaign of the S7 and S7 Edge, as a replacement device for those looking to buy a Note 7.
Chinese firm Huawei has managed to boost sales by 23% since 2015, shipping almost 34 million units in the country last year, according to IDC. The worldwide market has become saturated as other companies have made their own in-roads into the smartphone business, such as Google's Pixel handset.
Apple also seems to be ramping up for a massive launch of its iPhone 8 flagship device, with sales expected to be almost 86 million by 2018, according to analysts at Nomura Securities, speaking to Business Insider. This surge in sales is attributed to a reluctance to upgrade to the iPhone 7, leaving a large number users still waiting to upgrade to a new device.
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