Samsung recently said that it wants to expand its wearable ecosystem this year and gave a big hint that it may introduce new premium models of smartwatches. The company on Tuesday published its Q1 2024 (January-March) earnings and also shared its plans for the next quarter and the rest of the year. For its Mobile Experience (MX) business, it may 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, which recorded a significant quarter-on-quarter increase due to strong sales of the flagship Galaxy S24 smartphone. The tech giant reported its operating profit for the quarter at KRW 6.61 trillion (approximately Rs 37 thousand crore). It also attributed the increased profits to higher earnings posted by MX Business.
Apart from its revenue figures, the company also mentioned its plans for the next quarter as well as the rest of the year. Notably, Samsung highlighted that it plans to expand its wearable ecosystem. One way to do this is to introduce new form factors like the Galaxy Ring. The device was recently showcased at the Mobile World Congress (MWC) 2024 but there is no information regarding 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.
Another way Samsung is looking to expand the division is by introducing new premium models of smartwatches. This is interesting because the company currently has two smartwatches in the market – the Galaxy Watch 6 and the Galaxy Watch 6 Classic. However, this year it may also introduce other models along with them. According to a report by SamMobile, Samsung may launch a new square or rectangular smartwatch.
This wouldn’t be a new move as the company used to offer square smartwatches with its now-discontinued Galaxy Gear series. There are also rumors that the company may bring another smartwatch with the ‘Pro’ or ‘Ultra’ moniker and add more features to it, which could make use of the new rectangular dial.
