Samsung Electronics has seen a successful third quarter this year, with the company recording its highest smartphone profit share in the global market in six years, beating other major brands as well in certain regions.
The South Korean tech giant has beaten Apple in the US and Xiaomi in the Indian market. Furthermore, the company has even manged to narrow the gap with the Cupertino based giant in terms of smartphone profit share. In Q3 2020, Samsung achieved a profit share of 32.6 percent, which is significantly up from 18.8 percent from back in 2019. This also marks its highest profit share in over six years, since it saw a 37.9 percent profit share back in Q2 2014.
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Notably, Apple still remains the world’s most profitable smartphone brand with a 60.5 percent profit share. Although, this figure is down from 66.9 percent from last year. The company saw a fall in operating margins with the release of the new iPhone 12 series. On the other hand, Samsung noted a growth in operating margin, rising from 11 percent in Q3 2019 to 14 percent in the same quarter this year, as per a SamMobile report based on Strategy Analytical research.
Similarly, Samsung Electronics’ global smartphone revenue share was 22.6 percent, while Apple had a revenue share of 29.5 percent during the same period. Although, the former’s overall market share was higher, coming in at 21.9 percent. This is higher than the market share of Chinese tech giants like Huawei, with 14.1 percent, and 12.7 percent market share of Xiaomi. Apple slipped down to fourth position during the third quarter of this year, having a market share of just 11.9 percent.
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