Imagine my semi-surprise when the “market research firm” Strategy Analytics released its numbers for global smartphone vendor shipments and stated that Samsung had shipped a whopping 370% more smartphones this past quarter (3rd quarter) than they did in the same quarter in 2010. I shouldn’t have been surprised, because these statistics are as impossible as “market research firms” are credible.
Samsung actually produced a useful document which seriously calls into question this wonderful 370% number: its financial reporting presentation for this past quarter, which I pulled from their “Investor Relations” webpage.
Quick aside – check out the Samsung Investor Relations website landing page:
No, take a good look at it:
Back on point. According to the 2nd slide labeled “Segment Information”, 3rd quarter sales (in trillion Won) only increased 37% YoY.
So Strategy Analytics is saying that the number of smartphones shipped is greater than the increase in sales by a factor of 10 when compared to Samsung’s own information. Where’s that skeptical baby .jpg?
Of course it’s entirely possible that Samsung shipped every one of those alleged 28 million phones in the 3rd quarter and most of them are still hanging out in the channel. The strategy, sometimes known as “stuffing the channel” is what I call “beating off into a dirty sweatsock”. It feels good when you do it, but it kind of sucks when you have to dispose of the evidence. Let’s see how Sammy deals with that in the 4th quarter.