Samsung recently said it is looking to expand its wearable ecosystem this year and dropped a big hint that it might introduce new premium models of smartwatches. The company published its Q1 2024 (Jan-March) earnings on Tuesday and also shared its plans for the next quarter and the rest of the year. For its Mobile eXperience (MX) Business, it could launch new models of the Galaxy Watch and even the Galaxy Ring this year. The South Korean tech giant is also planning to integrate Galaxy AI with new and existing flagship devices.
In a newsroom post, Samsung revealed its quarterly revenue, posting a significant growth quarter-on-quarter on the back of strong sales of flagship Galaxy S24 smartphones. The tech giant reported its operating profits for the quarter to be KRW 6.61 trillion (roughly Rs. 37 thousand crores). It also attributed the increased profits to the higher earnings posted by the MX Business.
Apart from its revenue numbers, the company also mentioned its plans for the next quarter as well as for the rest of the year. Notably, Samsung highlighted that it plans to expand its wearable ecosystem. One way it aims to do it is by introducing new form factors such as the Galaxy Ring. The device was recently showcased at the Mobile World Congress (MWC) 2024 but there is no word on its launch date. However, the mention highlights that the Galaxy Ring could be launched later this year. An earlier report claimed that it could enter mass production in the third quarter of the year.
The second way Samsung wants to expand the division is by introducing new premium models of smartwatches. This is interesting given the company currently has two smartwatches in the market — the Galaxy Watch 6 and the Galaxy Watch 6 Classic. However, this year, it might introduce other models alongside them. According to a report by SamMobile, Samsung could launch a new square or rectangular smartwatch.
This will not be a new move either as the company used to offer square smartwatches with its now-discontinued Galaxy Gear series. There is also rumours that the company could bring another smartwatch with the ‘Pro’ or ‘Ultra’ moniker and add more features to it, which could be used for the new rectangular dial.