A new report has revealed that Samsung Electronics has seen robust performance in the first quarter of this year. Apparently, the company managed to hit a new record high market share in five years.
The news arrives from a StrategyAnalytics report, which stated that the global smartphone shipments fell by 11 percent year on year to 314 million units in Q1 2022. However, despite the decline, the South Kroean tech giant managed to achieve a notable market share of 24 percent during the first quarter. On the other hand, Apple came in second with an 18 percent market share, followed by Xiaomi, OPPO (including OnePlus), and Vivo that rounded up the top five list.
According to Woody Oh , Director at at Strategy Analytics, “We estimate Samsung shipped 75 million smartphones and topped the global smartphone market with a healthy 24 percent share in Q1 2022. It is the vendor’s highest first quarter performance by market share since 2017. Demand was strong for the newly launched flagship Galaxy S22 series, especially the higher priced S22 Ultra model. Meanwhile, Samsung continue to ramp up mass market A series in multiple markets.”
In other words, the company’s smartphone across multiple ranges saw great success across the globe. But as of right now, the global handset market is expect to further contract by around 1 to 2 percent in 2022. This is likely due to the effects of geopolitical issues, component shortages, price inflation, exchange rate volatility, and the ongoing pandemic as well.
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