Samsung Manages to Lead the Market Despite Unfavourable Market and Economic Conditions
Samsung saw an increase of 5% from Q4 2021, highlighting a rather impressive growth in the first few months of this year. It is also important to know that the smartphone industry along with some of the other industries was hit with a slowdown al thanks to the Omicron variant, lockdowns in several parts of the world, the Russia-Ukraine fallout, and generally slow demand, and all of this contributed to the smartphone market going in a decline. Samsung has managed to lead the smartphone market in the first quarter with 24% market share which is up from 22% in Q1 2021. The company’s revamped smartphone portfolio was the main reason why Samsung managed to remain relevant and competitive in a challenging market. The Galaxy S21 FE managed to get some really nice sales, followed by the Galaxy S22 series, and Samsung is continuously making some aggressive improvements in the Galaxy A series, too. Something that will drastically help the company remain more competitive across all the price points. As far as the situation for Samsung’s competition is concerned, things are not really looking that good. However, Apple is in the 2nd spot with an 18% market share in Q1 2022. The company witnessed sustained demand for the iPhone SE which has become a great cash cow for Samsung. Xiaomi, Oppo, and Vivo are the remaining companies filling the top five list. My wife recently shifted to the Samsung A52s and I am more than surprised by how this budget device manages to perform and operate on almost everything. It is clear that Samsung has a winning strategy on their hands.
