Image Credits: InternationalFinance
The year before, Xiaomi surpassed Samsung to become the world’s largest smartphone manufacturer. This year, however, the tables have reversed, and Samsung has not only reclaimed the market’s top spot, but also the largest market share in the smartphone sector since 2017. You can browse down to get further information below to learn more!
Samsung is the global smartphone market leader
As shown in a recent report by analytics firm Counterpoint Research, Samsung has been able to acquire a 24 percent market share in the global smartphone industry in April 2022 and was also the world’s best-selling smartphone brand.
The company’s 24 percent market share is the highest since 2017. Remember, the corporation had a 25 percent market share in the smartphone sector in 2017. Samsung’s rise in the smartphone sector is claimed to have been powered by its flagship Galaxy S22 series and its budget-focused A-series handsets.
However, among the significant elements that improved the company’s market dominance were its good supply chain management and preservation of a balance between demand and supply, even when the world was experiencing a chip shortage. Despite stiff competition from competitors such as Xiaomi, Realme, Oppo, and OnePlus, Samsung has made a significant impression in the Indian smartphone market.
Remarking on the worldwide cell phone market, Senior Analyst Varun Mishra said, “The worldwide cell phone market declined further in April 2022, arriving at the most reduced level since the pandemic in 2020. China declined the most, as shopper opinion debilitated because of lockdowns.
Deals in Russia likewise declined in April as key OEMs left the market and stock exhausted. These elements implied one more mishap for the market, which was all the while recuperating from the part deficiencies. LATAM, US, and India were the main business sectors to show development, yet that was sufficiently not to balance the decrease in different districts.”
The Korean behemoth also gave enticing discounts and promotional deals for its products in key regions such as the United States, India, and Latin America, propelling it to the world’s largest smartphone brand.
In the meantime, Apple’s rise in the global smartphone industry has slowed to 15% in terms of smartphone sales. The tech titan was followed by Xiaomi, which had only 12% of the entire market share. The growth chart for all three firms over the last five years is provided below.
Image Credits: CounterPoint
According to Counterpoint analysts, “Samsung is projected to maintain its top position in the global smartphone market in Q2 2022.”
Furthermore, with the business expecting to introduce its next-generation Galaxy Z Fold 4 and Z Flip 4 foldable phones in the coming months, rival industry titans may find it tough to dethrone Samsung. This might be increased if Samsung reduces the pricing of its future foldable.
