Samsung’s Galaxy S5 may not have been the revolutionary, game-changing device that many had hoped for but that’s seemingly done little to curb its appeal. An analysis of sales after just one month on the market reveal the new flagship is outpacing the Galaxy S4 by 10 percent.
According to Samsung mobile chief J.K. Shin, the company has sold more than 11 million units since its early April debut. He said sales are especially good in developed markets such as the US, Australia and Germany, crediting stronger sales to better carrier agreements, offering it in more countries from the start and expanding its presence within retail outlets like Best Buy.
For comparison, the model it replaces sold an impressive 10 million handsets during its first month of availability last year.
It is good news for Samsung as a number of analysts and investors likely didn’t expect such solid performance. The company has been facing increased competition from newcomers out of China selling cheaper phones. In fact, Samsung lost market share in Q1 for the first time in four years and saw profits decline over the past two quarters.
That said, Samsung is expected to improve revenues in the second quarter thanks to the Galaxy S5. The company is also planning to roll out variations of the S5 over the coming months in order to sustain sales momentum.