A report from South Korea claims that Samsung held a private conference call with security analysts this week where it discussed how to protect its business from the COVID-19 pandemic. In the call, the company also discussed the sales of the Galaxy S20 series which have been disappointing. Samsung has seemingly sold less than 60% Galaxy S20 units as compared to the Galaxy S10 in the same timeframe. These are just the preliminary numbers and it is possible that the final figures are even worse.
Samsung is yet to provide any official figure on the number of Galaxy S20 units it has sold so far. The company is expected to provide some official insight into the Galaxy S20 sales when it releases its Q1 earnings estimate in a few weeks from now.
There is little that Samsung can do to help boost the less-than-stellar sales of the Galaxy S20 series. Countries worldwide have shut down due to the COVID-19 pandemic and the effects of this shut down are expected to last for weeks. With the economy slowing down and the ongoing shutdown, consumers are going to be wary of spending $1,000+ on a smartphone right now. The pandemic is also expected to have a negative impact on Samsung Electronics’ earnings for 2020.