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UAE: Smartphone prices to drop by up to Dh400 as Samsung Galaxy S24 set to hit stores

Other phone makers might also respond with rate adjustments for their flagship models or mid-range devices, says retailer

Published: Sun 21 Jan 2024, 11:07 AM

Updated: Mon 22 Jan 2024, 9:05 AM

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Samsung Galaxy S24 series smartphones displayed. Photo: AFP

Samsung Galaxy S24 series smartphones displayed. Photo: AFP

Prices of some of the previous models of the Samsung Galaxy series will see a double-digit drop in the UAE once the newly launched AI-packed S24 model hits the shelves in the coming week.

Launched globally on January 17, pre-orders for three variants of the S24 model have begun for UAE shoppers.

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Retailers in the UAE expect prices of older variants of the Galaxy model – including S23 – to drop between 10 to 38 per cent. Major retailers expect customers can get their hands on the S24 devices from January 31.

How much drop is expected

Vikas Chadha, CEO of Jumbo Group, sees the S23 series is expected to retail at a 35-38 per cent discount over its launch time prices once the S24 hits the UAE market next week.

Regarding the impact on other brands’ handsets, he said competitors might respond with price adjustments for their flagship models or mid-range devices to remain competitive.

Nilesh Khalkho, CEO of Sharaf DG, expects a Dh300-400 price drop for the previous Galaxy S series model. “The new S series launch will only impact the price for its predecessor model, S23,” he said.

Electronics retailer ECity expects a price drop of up to 10 per cent in previous models.

Upon the launch of the Galaxy S24, Rajat Asthana, COO of Eros Group, also saw approximately 10 per cent fall anticipated for previous models in the Galaxy S series.

“The launch of new models in the Galaxy S series is expected to have a limited impact on the prices of other Samsung series phones. The S series has a dedicated customer base, and the introduction of new models is unlikely to significantly affect pricing dynamics in other series,” he added.

Is S24 overpriced?

Depending on the storage capacity of the models, prices for the base models range between Dh3,199 and Dh3,499; Plus has been priced between Dh3,899 and Dh4,399, while Ultra will cost between Dh5,099 and Dh6,599.

Vikas Chadha added that the S24 Series is priced slightly higher than the S23 Series, launched around the same time last year. “This is due to the inclusion of generative artificial intelligence features called Galaxy AI.”

Nilesh Khalkho said S24 is competitively priced for the differential and unique specifications that they are offering. “It is the first AI-enabled smartphone to be launched.”

Considering its features and the offerings of competitors, Asthana also sees Galaxy S24 as highly competitively priced in the UAE market.

Why S24 sale will surpass S23

Galaxy S24 has the potential to surpass its predecessor in terms of sales and popularity due to the introduction of new features, according to Asthana.

“S24 boasts in-built AI capabilities, an enhanced camera, and improved photo editing features, positioning it as a compelling choice for consumers in the UAE.”

Jumbo Group’s Vikas Chadha said a suite of unique AI features of S24 make it a standout product and poised to help surpass its predecessor in sales.

“For example, it enables live translation of calls, transforms videos shot at normal speed into slow-motion videos, and removes unwanted shadows from your photos - all features expected to garner a positive consumer response.”

Nilesh Khalkho of Sharaf DG is also confident of S24 surpassing its predecessor.

“New AI features for editing photos and searching things online, ProVisual Engine which can circle locations or items a user is directing their camera at, or on a picture they’ve taken, and then look up results on what those things are, and live transcription that allows users to instantly render phone calls from one language to another make it stand out.”

S24 can surpass its predecessor both in terms of sales and popularity as the upgrade with AI features and Titanium body will create an impact, believes UAE retailer ECity.

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