Samsung grabs an all-time high market share in South Korea
Despite the Covid-19 disruption, Samsung’s smartphone unit has sustained a decent growth. Its quarterly revenue has risen, whereas its performance in the US has also improved. Now, its market share in its home market has reached an all-time high, reports Strategy Analytics (via Sammobile).
According to the research firm, Samsung’s market share in South Korea has reached 72.3%, up from 67.9% last year, during the third quarter of this year. With 3.4 million units shipped, Samsung is way ahead of the number two and number three – Apple (8.9%) and LG (9.6%). While Samsung’s share has soared, both Apple and LG have seen a decline. It is also the first time Samsung has more than 70% of the market share in Korea.
The research firm notes that Samsung’s growth was driven by the high-end devices such as Galaxy Note 20, Galaxy Z Flip 5G, and Galaxy Fold 2. The three devices were introduced in the third quarter. The market share is likely to take a hit as Apple has also introduced new smartphones, iPhone 12 mini, iPhone 12, iPhone 12 Pro, and iPhone 12 Pro Max. LG has also come out with a slew of new devices.
Sammobile reports that Samsung is looking to tackle Apple’s new devices with an early launch of its next flagship smartphone series. According to the report, Samsung may introduce the Galaxy S21 series in January instead of the traditional launch cycle of February. Already, details about Samsung’s new flagship smartphone series have leaked online. Just like the previous, Samsung is expected to showcase Galaxy S21, Galaxy S21 Plus, and Galaxy S21 Ultra.
That said, it’d be interesting to see how Samsung fares in other key markets such as India. Here, Samsung has also gained good momentum as it has captured its highest market in India since 2018, said a Counterpoint Research report last month. The research firm noted that Samsung has benefited from an aggressive online channel strategy amid growing anti-China sentiments in the country.
“Geopolitical policies and political affairs among nations are affecting the smartphone market in many ways. There will be heightened marketing activity to seize opportunities in these regions and segments. As a result, the concentration of top players in the smartphone market will be much stronger. We see players like Samsung, Apple, Xiaomi and OPPO benefiting the most,” Research Analyst Minsoo Kang had said in a post.