Samsung Acquires the Highest Market Share Globally Since 2017: Counterpoint

Final 12 months, we noticed Xiaomi overtake Samsung to turn into the most important smartphone

Final 12 months, we noticed Xiaomi overtake Samsung to turn into the most important smartphone maker on the earth. This 12 months, nonetheless, the tables have turned, and Samsung has not solely regained its prime place out there but in addition has garnered essentially the most market share within the smartphone business since 2017. Try the small print beneath to know extra!

Samsung Leads the World Smartphone Market

In accordance with a latest report by analytics agency Counterpoint Analysis, Samsung was in a position to purchase a 24% market share within the international smartphone business in April 2022 and was additionally the best-selling smartphone model on the earth. The 24% market share is the very best the corporate has seen since 2017. To recall, the corporate had acquired a market share of 25% within the smartphone business again in 2017.

It’s mentioned that Samsung’s development within the smartphone business was fueled by its flagship Galaxy S22 collection and its budget-focused A-series smartphones. Nevertheless, among the main components that boosted the corporate’s market share had been its wholesome measures for provide chain administration and upkeep of a stability between the demand and provide, all amidst a worldwide chip scarcity.

Samsung additionally made a huge effect within the Indian smartphone sector, regardless of heavy competitors from manufacturers like Xiaomi, Realme, Oppo, and OnePlus. The Korean large additionally offered engaging reductions and promotional provides for its merchandise in among the core markets within the US, India, and Latin America, which led it to turn into the most important smartphone model on the earth.

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In the meantime, Apple’s development within the international smartphone market fell to fifteen% when it comes to smartphone gross sales. The tech large was adopted by Xiaomi, which stood with solely 12% of the full market share. You possibly can take a look at the expansion chart of all three corporations within the final 5 years connected proper beneath.

Samsung Acquires the Highest Market Share globally
Picture: Counterpoint Analysis

Going ahead, Counterpoint analysts state that “Samsung is more likely to retain the management place within the international smartphone market in Q2 2022.” Furthermore, with the corporate aiming to launch its next-gen Galaxy Z Fold 4 and the Z Flip 4 foldable telephones within the coming months, it might turn into tough for different business giants to topple Samsung from the highest. This might additional be achieved if Samsung additional lowers the costs of its upcoming foldables. So, what are your ideas on this? Tell us within the feedback beneath.