Mumbai, May 30 Even as global smartphone sales declined 8 per cent year-on-year in April 2022, Samsung recorded a 9 per cent YoY growth in sales during the month, capturing 24 per cent of the global smartphone market, according to Counterpoint Research’s Market Pulse Service.
This is the highest monthly market share for Samsung since April 2017. Further, it was one of the few brands to grow against the market decline.
“The growth helped Samsung lead global smartphone market sales for the third consecutive month in 2022,” the report said.
In April it also became the top brand in the Indian market for the first time since August 2020.
Research Director Tarun Pathak said, “Samsung captured close to one-fourth of the global smartphone market in April 2022, reaching its highest single-month share in the last five years. This was driven by the strong performance of the S22 series in the premium segment and the A series in the mid-segment.”
“Samsung also had low exposure to the declining China market, which negatively affected sales of all Chinese OEMs. Promotions in some of Samsung’s core markets like Latin America and growth in India, where it became the No.1 brand in April, also helped expand its market share during the month. Samsung’s supply chain management through 2022 has been robust,” said Pathak.
Talking about the overall performance of the global smartphone market, Senior Analyst Varun Mishra said, “The global smartphone market declined further in April 2022, reaching its lowest level since the pandemic in 2020. China declined the most, as consumer sentiment weakened due to lockdowns.”
“Sales in Russia also declined in April as key OEMs exited the market and inventory depleted. These factors meant another setback for the market, which was still recovering from component shortages. LATAM, the US and India were the only markets to show growth, but that was not enough to offset the decline in other regions,” Mishra added.
Moving forward, Samsung is likely to retain the leadership position in the global smartphone market in Q2 2022.
“The foldables segment, where Samsung leads, also has a lot of potential,” according to the report.
The brand is likely to aim to lower prices for foldable phones to gain a competitive advantage, the report said.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.