In the last the past year 2022, Samsung experienced a peak business and grew up to the world’s biggest smartphone brand in the year, as a report from market research firm Canalys analysis…!!
Samsung led global market share was 22% last year, a 2% points improvement compared to 2021. Apple, too, improved its market share from 17% in 2021 to 19% in 2022. Apple (25%) even managed to beat Samsung (20%) in Q4 2022 as it launched the iPhone 14 series in that quarter while Samsung didn’t launch any important new phone.
Whereas, the year was not the same pleasant for the other smartphone brands. Rising component prices, geopolitical tensions, and supply chain issues troubled all smartphone brands. The overall market dropped 17% in Q4 2022.
** However, two smartphone brands managed to increase their market share: Apple and Samsung.
Chinese smartphone brands suffered, with Xiaomi ranking third with a 13% market share, a 1% point drop compared to 2021. OPPO and Vivo ranked fourth and fifth, respectively with a 9% market share each in 2022. OPPO’s market share was 11% in 2021, while Vivo’s market share was 10% in 2021. Most of Xiaomi’s problems were due to challenges in India where the company is fighting the government in a case related to tax evasion.
In the opinion of the market research firm, the global smartphone market will stay flat in 2023 due to the economic recession. Brands will reportedly approach this year with caution and a focus on profitability and cutting down costs.
As connecting the thread of legacy, Samsung will launch the Galaxy S23 series in Q1 (February 1) of this year. In terms of buying you may pre-reserve in advance the device to get up to $100 in-store credit.
In Q3 2023, the company will launch Galaxy Z Flip 5 and Galaxy Z Fold 5. Other than that it remains a great anticipation that what the devices will pack with, I mean features, functionalities, and new inducement.