Korean electronics company Samsung dominates the global smartphone market. In the second quarter (Q2) this year, the company remained at the first position in the global market with 21 percent market share. While the competitor company Apple (Apple) remained at number two with 17 percent market share. This has been said in a report of Canalis. According to the news of IANS, the global smartphone market has declined by 11 percent (year-on-year) in the second quarter.
Samsung and Apple had to reduce their sales due to a decrease in the sales of the global smartphone market during the quarter. Apart from these top 2 companies, Chinese brand Xiaomi made its place at number three with 13 percent market share due to improvement in supply chain. Oppo (including OnePlus) grabbed the fourth spot with 10 percent market share, while Vivo came fifth with 8 percent market share, led by the new Y-series launch.
Steady decline since 2022
Canalys analyst Le Juan Chive said the smartphone global market is showing early signs of recovery after six consecutive quarters of decline since 2022. There are indications that sellers are preparing for a market correction in the future. The vendors haven’t stopped investing in manufacturing and have a direct presence in emerging markets such as Southeast Asia and India.
According to analyst Toby Zhu, it is important for smartphone vendors to be agile in order to react to new market signals and allocate their resources effectively. Samsung (Samsung) introduced many smartphones under the Galaxy brand, which got a lot of support in the worldwide market. Apart from smartphones, Samsung manufactures tablets, Galaxy Watch, and other electronic products.
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