Samsung Electronics Co. SSNLF has unveiled its latest premium smartphone loaded with artificial intelligence features in an attempt to outsmart Apple Inc. AAPL.
What Happened: The freshly-revealed Galaxy S24 will offer multiple AI functions, including real-time translation of phone calls in different languages, reported Reuters.
The new Galaxy S24 models will be equipped with various AI features, such as two-way voice translation in real-time, a “circle-to-search” function for image search on Google, AI summaries and translation of voice recordings, and generative editing of photos.
These features are leveraged through Samsung’s own generative AI training and do not require cloud connectivity.
See Also: Foldable Phones Battle For Market Share: Samsung Leads, Apple Absent
Previously, it was reported that the Galaxy S24 series will include the Gemini Nano, an efficient model designed for on-device tasks.
This integration will introduce a new capability in Google Messages while ensuring that data remains within the smartphone and does not get transmitted elsewhere.
Price And Availability: The phone will be available starting Jan. 31 and ranges in price from $799 to $1,299, depending on the model.
Other tech companies, including Qualcomm Technologies, Inc. QCOM are also promoting on-device AI as a more secure option for personal data, as it negates the need to send data to the cloud.
Despite only 5% of smartphones shipped in 2024 being AI-capable, according to data provider Canalys, this figure is expected to grow to 45% by 2027, the report noted.
Why It Matters: Samsung’s move comes after Apple dethroned Samsung to become the world’s biggest smartphone maker in 2023, ending Samsung’s 13-year reign at the top.
Reports indicate that Samsung has decided to bank on AI to achieve the shipment goal of 35 million units for the Galaxy S24 series smartphones. This target represents a growth of over 10% compared to the volumes of the Galaxy S23.
Moreover, it was also reported that Samsung expedited the launch timeline in a strategic move to compete directly with Apple's iPhone 15 series.
Meanwhile, in December, last year, tech analysts predicted a resurgence in smartphone sales starting in 2024, with a nearly 4% global increase in smartphone shipments, followed by a 4.4% rise in 2025, as per a Morgan Stanley analysis.
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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Samsung
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