Samsung's flagship Galaxy S5 handset is selling at a brisk pace, according to JK Shin, the company's co-CEO and head of mobile.
Since hitting stores early last month, sales of the latest model of the Korean tech giant's flagship phone have crossed the 11 million mark, Shin told the WSJ this week. This means it's selling faster than its predecessor, the S4, which sold about 10 million units in the same time period.
"It's been a month since we began selling the S5, and out of the gate, sales are much stronger than the Galaxy S4," Shin told the WSJ.
The healthy sales figures may surprise some as competition increases within a market that's heading rapidly toward saturation point in some regions.
Shin attributed the S5′s strong sales performance to a more clearly thought out launch strategy that saw the device land simultaneously in 125 countries and included agreements with major carriers from the off.
In addition, the tech firm has also been increasing its presence in brick-and-mortar stores, giving the S5 increased exposure.
The seemingly strong sales of the S5 come in spite of mixed reviews for the handset following its launch in April, with some criticizing it for its stale design, plastic body, and overabundance of Samsung services. Last week it was reported the company's head of mobile design had resigned, leading many to wonder if criticism of the S5 had led to conflict within sections of the company.
Samsung's overall smartphone business, while still performing well, is undoubtedly coming under increasing pressure from rivals, particularly in developing markets. The Seoul-based company shipped 89 million smartphones globally in the first three months of 2014 compared to 69.4 million in the same period a year earlier. However, these figures, published by Strategy Analytics, put the company's global market share at 31.2 percent, down from 32.4 percent 12 months earlier.
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