Ming-Chi Kuo said that the driving force of Galaxy AI is slowing down, and Samsung's foldable screen mobile phone shipments are expected to be about 8-9 million units in 2024.

IT House News on August 13, Ming-Chi Kuo issued a market investment briefing today, believing that the two mobile phones Samsung will release in July 2024, Galaxy Z Fold6 and Galaxy Z Flip6, will use Galaxy AI as the main selling point, but pre-orders fell by 10% year-on-year. , Samsung’s foldable screen mobile phone shipments are estimated to be 8-9 million units in 2024, a slight decline from last year.

1. Although the initial demand for Samsung S24 series mobile phones was better than expected, shipment momentum has begun to slow down since April.
2. Samsung’s new foldable phones (Galaxy Z Fold6 and Galaxy Z Flip6) in July 2024 also use AI as a main selling point, but pre-orders fell 10% year-on-year. Samsung will ship approximately 8-9 million foldable phones this year, a slight decline from last year.
3. It is currently expected that the S25 series shipments in 2025 may be the same as the S24 in 2024.
   Conclusion:
4. It is a general trend for mobile phone brands to invest in AI services one after another. Judging from this trend, there must be specific component suppliers that benefit from this investment trend (regardless of whether device-side AI can continue to increase the demand for machine replacement).
5. There is currently no clear evidence that Google/Samsung’s continued improvement of local AI services can once again drive a wave of phone replacements.
6. The shipments of Android foldable phones (Samsung & Chinese brands) are slower than expected. If the user experience of foldable phones is not significantly improved, the growth space of foldable phones may be limited in the short term.
7. There are always some market participants who are optimistic that mobile phone and PC shipments will experience dramatic growth due to local AI. If iPhone 16 series shipments cannot exceed expectations due to Apple Intelligence after the launch in 2H24, the above optimistic expectations may be revised and create downside risks for related stocks in the short term.

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