Samsung shrugs off sales concerns with 20 million Galaxy S4 shipments milestone - Inquirer

KOREAN PHONE MAKER Samsung's flagship Galaxy S4 smartphone reportedly has passed 20 million sales since its launch in April, despite speculation that sales had slowed. That's according to the Korea Times, which has heard from sources at Samsung, including the firm's CEO and co-CEO, that the handset has reached the 20 million sales milestone. The report quoted a Samsung executive as saying that an "official announcement is coming soon", while another confirmed that the report is correct. This revelation comes just over a month after Samsung announced that it had reached 10 million Galaxy S4 sales, a milestone that saw it launch additional models of the smartphone in red, blue and purple. It also follows reports that sales of the Samsung Galaxy S4 have been slow, speculation that wiped around £7.2bn off the company's market value. Adding weight to these rumours, Samsung reportedly scaled back production of the handset by "10 to 15 percent" last month, although this is still to be confirmed. Mark Newman, senior analyst at Sanford Bernstein in Hong Kong seemed to reject the rumours too, saying to the Korea Times, "From conversations we had with some of the key suppliers of the GS4, we remain convinced that the production is in line with their original schedule, and well on track to reach our target of 22 million in the second quarter." He added, "While it is true that production will begin to slow starting in July, this is only following the natural life cycle of flagship smartphone products and the GS4 has already been in production for several months." Samsung was not available to comment at the time of writing, but probably will share more in its quarterly guidance on 6 July. µ via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHKK7T5LQ4H0OqavU6UCQaQRvUKdQ&url=http://www.theinquirer.net/inquirer/news/2279254/samsung-shrugs-off-sales-concerns-with-20-million-galaxy-s4-shipments-milestone

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