Samsung Regains Top Spot In Smartphone Market As It Touches Five Year High: Report

Alleres

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posted on 2 years ago — updated on 1 second ago

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This comes soon after the South Korean giant said that it will exit the feature phones market by the end of 2022. According to a recent report in ET, Samsung’s last batch of feature phones is set to be manufactured by Dixon in December this year.

Samsung has reached its highest global smartphone market share in the last five years. This comes after Samsung regained the top spot as the best-selling smartphone brand in Q1 2022 with a market share of about 24 percent.

Samsung’s Galaxy S22 series and the affordable budget and mid-range smartphones from the company were the major reason for the company’s success. Samsung has reached this level of dominance in the smartphone market for the first time after 2017. Currently, the company holds a market share of 24 percent, according to a report from Counterpoint Research. Back in 2017, Samsung had a market share of 25 percent.

ALSO READ: Samsung Cutting Down Smartphone Production By 30 Million Units: Report

While Samsung’s market share has reached 24 percent, Apple took a 15 percent share, and Xiaomi, the second-biggest Android took a 12 percent market share in Q1 2022.

This comes a day after Samsung announced a cut back in production of smartphones. The company is reducing the production by about 30 million units due to several factors. Samsung, which is currently the world’s leading smartphone maker, will ramp down production by 30 million units for 2022, a report in South Korea’s Maeil Business News has said. Earlier, Bloomberg had reported that Apple is dropping its plans to make 20 million extra iPhone units in 2022.

ALSO READ: Samsung To Stop Selling Low-cost Feature Phones In India Soon: Report

The reason for Samsung cutting down production is largely due to the COVID-19 related lag and supply chain constraints. Apart from that, the ongoing component shortage and the crisis in Ukraine are said to be reasons for Samsung’s reported cut in smartphone production.

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