The Samsung Galaxy S20 series, released last month, has not sold as well as the company had expected as the coronavirus outbreak has slowed demand for smartphones and pushed down shipments worldwide.

According to a report in the Seoul Economic Daily, the Galaxy S20 lineup sold only 60% of its Samsung Galaxy S10 predecessor during the same period last year, "raising concerns about a sharp drop in demand." The data, which will be officially released when Samsung releases its quarterly results, points to the COVID-19 epidemic as the main reason for the slump in sales.

The smartphone market in particular has been hit hard by the ongoing health pandemic. Initially, production activity in China delayed the manufacture and shipment of certain devices such as the iPhone 9. Currently, Apple, Sprint, T-Mobile, and Verizon stores are closed in the US and around the world for the safety of their employees.

As a result, global smartphone shipments fell 38% in February compared to the same month last year, according to Strategy Analytics. Samsung is still the leader in sales (followed by Apple), but the evidence suggests that now is not the time for people to upgrade their phones.

Samsung has not changed its sales target of 32 million Galaxy S20 units, even though it is unlikely to reach that sales volume.

The high price, along with the spread of the coronavirus, may have slowed Galaxy S20 phone sales. The entry-level Samsung Galaxy S20 starts at $999, while the premium Samsung Galaxy S20 Ultra costs $1,399.