UAE Unveils Anticipated Price Drop after Samsung Galaxy S24 Launch
Retailers in the UAE are anticipating a significant drop in prices for older models of the Samsung Galaxy series, including the S23, as the newly launched AI-packed S24 is set to hit the shelves.
The S24 model was globally launched on January 17, with pre-orders underway for UAE shoppers. Retailers expect the prices of previous Galaxy variants to decrease between 10% and 38%.
Vikas Chadha, CEO of Jumbo Group, sees the S23 series being discounted by 35–38% over its launch prices once the S24 becomes available in the UAE. Other retailers, including Nilesh Khalkho, CEO of Sharaf DG, and Rajat Asthana, COO of Eros Group, also anticipate price drops ranging from 10% to 38%.
Competitors in the market may respond with rate adjustments for their flagship or mid-range devices to remain competitive. Khalkho expects a price drop of Dh300–400 for the previous Galaxy S series model, emphasizing that the new S series launch will primarily impact the pricing of its predecessor, the S23.
Upon the launch of the Galaxy S24, Asthana of Eros foresees a roughly 10% fall expected for previous models in the Galaxy S series. He believes that the introduction of new models in the S series is unlikely to significantly affect pricing dynamics in other series.
The prices for the base models of the S24 range between Dh3,199 and Dh3,499, with the Plus variant priced between Dh3,899 and Dh4,399 and the Ultra costing between Dh5,099 and Dh6,599. Chadha notes that the S24 Series is priced slightly higher than the S23 Series, launched around the same time last year, due to the inclusion of generative artificial intelligence features called Galaxy AI.
Despite the increase in price, retailers believe that the S24's suite of unique AI features positions it as a standout product. The introduction of live translation of calls, video transformation, and advanced photo editing features is expected to garner a positive consumer response, potentially helping the S24 surpass its predecessor in terms of sales and popularity in the UAE market.