However, sales of the base S26 and S26 Plus declined by 4% and 18% YoY respectively. The upshot of this was that in the first four weeks of availability, total sales of the Galaxy S26 series were up 4% compared to the S25 series. It also meant that the Ultra accounted for 47% of total S26 series sales, up from 40% for the S25 and the highest in Ultra history.

Samsung backed up its Privacy Display with real data – in a survey of 1,000 phone users in the UK, 59% acknowledged it was easy to see others’ screens when in a public place, while 40% said they had seen personal content on a stranger’s phone in public. Counterpoint Research’s consumer studies also confirm that Europeans are wary of strangers seeing personal information on their phones when out in public.

Samsung’s Novel Approach to Flagship Pricing

In order to mitigate the skyrocketing memory prices, Samsung’s strategy is clearly to drive sales of the top SKU where margins are larger. To this end, Samsung demonstrated a novel approach to pricing – raising the prices compared to previous generations of entry variants only, while keeping the top SKU the same. The base S26 and S26 Plus increased by 8%-10% versus the S25 and S25 Plus, but the S26 Ultra decreased in price slightly.

The price delta between the S26 and S26 Ultra is now only €450 (versus €550 last year), but the spec differential has widened thanks to the introduction of Privacy Display in the S26 Ultra. And with most people in Europe buying their phones on a contract, the perceived price difference shrinks even more.

There are two key conclusions to draw from this. First, premiumization is still ongoing in Europe, with people increasingly shifting towards higher-end devices. Smartphones are costing more but are also generally more durable. Because they are holding on to their devices for longer, consumers want more bang for their buck, hence the shift to more premium smartphones. Second, the Galaxy S Plus variant is looking increasingly irrelevant. Stuck in the middle between the cheaper, smaller base variant and the flagship Ultra (the top SKU of the S26 Plus even overlaps in price with the S26 Ultra), the Plus offers little to attract consumers. Samsung had the same problem with the Edge, so it would not be surprising if a portfolio rethink occurs by the time the S27 comes along.

Looking ahead, the impacts of the memory crisis and Iran war are expected to hit harder in Q2 and beyond, so Samsung is under pressure to maintain its pricing strategy. However, a more than 10% price rise in its volume-heavy A series compared to last year points to significant challenges ahead for Samsung. Further, while we think the Samsung S26 series, and the Ultra in particular, will remain competitive and popular in Europe, Apple is having the best start to a calendar year ever. Samsung, therefore, has a crucial window to gain share before the new Galaxy Z Fold series comes along, and before Apple’s next launch later in the year.