Wealthy Class Frenzy to Get It... Places Saying "Can't Sell Because No Galaxy S24"

Surging Demand in Pakistan... Shortages Occur
"Shows the Potential of the Middle East Smartphone Market"

Samsung Electronics' ‘Galaxy S24’ series, unveiled in January this year, is gaining explosive popularity in Pakistan. It is reported to be selling like hotcakes among the wealthy, leading to a shortage.

On the 25th, Bloomberg and other media reported that “smartphones assembled in Pakistan this year saw a surge in demand immediately after their release,” with the Galaxy S24 series craze being particularly strong.

[Image source=AFP Yonhap News]

They further analyzed that the popularity of the flagship series, which is more expensive than Samsung’s other product lines, is a result of the Pakistani government’s subsidy policy. Since 2017, Pakistan has encouraged smartphone manufacturers to assemble phones locally. As a result, most of the 21 million units produced last year were made locally or by Chinese brands.

Samsung Electronics also partners with local companies to assemble smartphones in Pakistan and receives subsidies from the Pakistani government. In contrast, Apple’s iPhone is classified as an imported smartphone in Pakistan, which means consumers must pay an additional tax of $650, more than one-third of the price. This is why Samsung Galaxy has a price advantage.

Bloomberg described this as “a phenomenon that shows the purchasing power of wealthy Pakistani consumers.” Pakistan is the fifth most populous country in the world, with 192 million mobile phone users. Bloomberg forecasts that the Pakistani mobile phone assembly market will grow by 30-40% this year. The Middle Eastern smartphone market, including Pakistan, is attracting attention as a market with high growth potential alongside Africa.

Samsung Electronics' Galaxy S24 Ultra [Image source=Yonhap News]

According to market research firm Canalys, the Middle Eastern smartphone market excluding Turkey recorded 12.2 million units in the fourth quarter of last year, a 24% increase compared to the previous year. Samsung Electronics maintains the number one market share in the Middle East. In neighboring India, Samsung has held the top spot in the smartphone market for six consecutive quarters since the fourth quarter of 2022. However, Chinese companies such as Xiaomi and Transsion are strong challengers.

Canalys analyzed, “The smartphone market has recovered since the second half of last year due to improved regional economic activity, and long-term growth is expected to continue,” adding, “Smartphone suppliers need to build stronger channel partnerships.”