The Galaxy Note Plus may cost $1,299 (£1,040) but this doesn’t seem to be bothering customers, who have helped it become the fastest-selling of all the 5G phones to date. And sales of Samsung's top of the range 5G smartphone accounted for one third of all Galaxy Note 10 sales in August. Seeing as 5G hasn’t officially rolled out worldwide yet, these are already very impressive figures.
The latest and greatest technology
According to BayStreet Research (opens in new tab), Verizon sold 40,000 Galaxy Note 10 Plus 5G phones in August. This figure out-sells all other 5G mobiles including the Samsung Galaxy S10 5G. To make it even more impressive, the Galaxy Note Plus 5G was only released on August 23rd.
Cliff Maldonado, principal analyst and founder of BayStreet Research, explained the success of the phone, claiming that the "the [Samsung] Note buyer is price-insensitive and wants the latest and greatest technology". And it certainly appears to have met the needs of its target market, as Samsung continues to see fantastic sales.
Looking to the future
The analyst also predicts that Samsung will see an even higher rate of sales this month until it settles down to 30,000 device sales per month. He expects the number to stay this high until the end of 2019.
Considering that 5G coverage remains fairly sparse, these figures are nothing short of a huge success for the company. By the end of 2022, we could see much higher sales as 5G should be fully operating worldwide.
Maldonado went on to say that "we believe the high-value use cases for 5G are still being worked out".
Could Samsung have released 5G-capable phones too early? It’s unlikely. They are already positioning themselves as industry leaders and this has been reflected by investor’s confidence. The Samsung stock price has already beat this year’s high and is still rising.
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