South Korean manufacturing giant, Samsung, is working on its smartphone business to ensure that it remains at the top of the global smartphone market. The largest smartphone market in the world is China. Unfortunately, the Chinese market is not so keen on Samsung’s devices and the reason will surprise you. Recall the Samsung Galaxy Note 7 incident back in 2016? It’s been 6 years but it appears that the Chinese market has not gotten over it. Since the incident, Samsung’s share in the Chinese market has been dwindling. Despite this, the company remains on top of the global smartphone market. In fact, it is becoming more popular globally.
According to statistics from Counterpoint Research in April, the global smartphone market shrank by 8%, falling to its lowest point since the pandemic. However, Samsung’s performance was somewhat “abnormal”, with sales up 9% year-on-year. This has brought Samsung’s global share of mobile phones to 24%, which has been growing for three consecutive months and holding the top spot. This market share is even of bigger significance considering that Samsung’s highest value since April 2017 is 25%.
The report attributed Samsung’s growth to the outstanding performance of the Samsung Galaxy S22 series. This series has been performing very well in the Indian and Latin American markets. Furthermore, Samsung’s mid-to-low-end smartphones have also been doing very well.
Samsung surpasses Xiaomi in India
Samsung has published on its website a press release on its success in India, where at the same time talked about plans for the future. Thus, the company wants to increase its share in the Indian market to 40% in the first half of 2022. Also, the main focus is on the Galaxy A13, Galaxy A23, Galaxy A33, Galaxy A53 and Galaxy A73 models.
Raju Pullan, Senior Vice President, MX Business, Samsung India said
“At Samsung, customers are at the heart of everything we do. Our recent launches – the flagship Galaxy S22 series and Galaxy A series – have witnessed strong demand from consumers; making March a record month for us. The exceptional growth in the month of March points to a stronger double-digit growth for Samsung in the current April to June 2022 quarter. Our endeavour is to constantly listen to our customers’ feedback – and continue to deliver mobile experiences that empower us all to evolve,”
Neil Shah, Vice President of Research, Counterpoint said
“Samsung led the Indian smartphone market in March 2022 capturing 22% shipment volume and 27% revenue share; according to Counterpoint Research Monthly India Smartphone Tracker. Timely portfolio expansion with 5G capability down to M, F & A series and strong uptake of the Galaxy S22 and foldable flagship series helped Samsung grow back to the leadership position. This growth is commendable considering the entire industry is facing supply chain constraints whereas; Samsung leveraging its vertical integrated supply chain expertise and scale could navigate the shortages better. Samsung has gained strong momentum to capitalize and maintain the lead,”