Samsung Acquires the Highest Market Share Globally Since 2017: Counterpoint

Last year, we sawXiaomi overtake Samsungto become the largest smartphone maker in the world. This year, however, the tables have turned, and Samsung has not only regained its top position in the market but also has garnered the most market share in the smartphone industry since 2017. Check out the details below to know more!

Samsung Leads the Global Smartphone Market

According to a recentreportby analytics firm Counterpoint Research, Samsungwas able to acquire a 24% market share in the global smartphone industry in April 2022and 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 industrywas fueled by itsflagship Galaxy S22 seriesand 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, allamidst a global chip shortage.

Samsung alsomade 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-genGalaxy Z Fold 4 and the Z Flip 4 foldable phonesin 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.

Dwaipayan Sengupta

A geek at heart, you’ll find me fidgeting with an iOS device or sitting in front of the laptop, scouring the internet to find interesting technological innovations. In my free time, you’d find me playing Valorant or listening to Pink Floyd.

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