Samsung tops its highest global smartphone market share in 5 years

By Team Newsable | First Published May 31, 2022, 11:55 AM IST

For the first time since 2017, Samsung has achieved this level of domination in the smartphone industry. According to Counterpoint Research, the corporation now has a 24 percent market share. Samsung has a 25 percent market share in 2017.

In the last five years, Samsung has achieved its largest worldwide smartphone market share. This comes after Samsung reclaimed the top rank as the best-selling smartphone brand in the first quarter of 2022, with a market share of around 24 percent.

Samsung's Galaxy S22 series, as well as the company's low budget and mid-range smartphones, were the primary reasons for the company's success. For the first time since 2017, Samsung has achieved this level of domination in the smartphone industry. According to Counterpoint Research, the corporation now has a 24 percent market share. Samsung has a 25 percent market share in 2017.

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While Samsung has a 24 per cent market share, Apple has a 15 per cent share, and Xiaomi, the second-largest Android, has a 12 per cent market share in Q1 2022.

This comes only one day after Samsung announced a reduction in smartphone output. Due to a variety of issues, the corporation is cutting manufacturing by around 30 million units. According to a report in South Korea's Maeil Business News, Samsung, the world's biggest smartphone manufacturer, would reduce manufacturing by 30 million devices in 2022. Bloomberg previously reported that Apple is abandoning plans to produce 20 million more iPhone devices in 2022.

The cause for Samsung's production cutback is mostly due to COVID-19-related delays and supply chain restrictions. Aside from that, the continued component scarcity and the Ukrainian conflict are cited as factors for Samsung's stated reduction in smartphone output.

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This comes shortly after the South Korean conglomerate announced its intention to abandon the feature phone market by the end of 2022. According to a recent ET story, Dixon will build Samsung's final batch of feature phones in December of this year. Following that, the business would no longer manufacture feature phones in India.

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