Samsung Leads the Global Smartphone Market
According to a recent report by analytics firm Counterpoint Research, Samsung was able to acquire a 24% market share in the global smartphone industry in April 2022 and was also the best-selling smartphone brand in the world. The 24% market share is the highest the company has seen since 2017. To recall, the company had acquired a market share of 25% in the smartphone industry back in 2017.
It is said that Samsung’s growth in the smartphone industry was fueled by its flagship Galaxy S22 series and its budget-focused A-series smartphones. However, some of the major factors that boosted the company’s market share were its healthy measures for supply chain management and maintenance of a balance between the demand and supply, all amidst a global chip shortage.
Samsung also made a huge impact in the Indian smartphone sector, despite heavy competition from brands like Xiaomi, Realme, Oppo, and OnePlus. The Korean giant also provided attractive discounts and promotional offers for its products in some of the core markets in the US, India, and Latin America, which led it to become the largest smartphone brand in the world.
Meanwhile, Apple’s growth in the global smartphone market fell to 15% in terms of smartphone sales. The tech giant was followed by Xiaomi, which stood with only 12% of the total market share. You can check out the growth chart of all three companies in the last five years attached right below.
Going forward, Counterpoint analysts state that “Samsung is likely to retain the leadership position in the global smartphone market in Q2 2022.” Moreover, with the company aiming to launch its next-gen Galaxy Z Fold 4 and the Z Flip 4 foldable phones in the coming months, it could become difficult for other industry giants to topple Samsung from the top. This could further be achieved if Samsung further lowers the prices of its upcoming foldables. So, what are your thoughts on this? Let us know in the comments below.
