According to the latest report revealed by Counterpoint Research, Samsung has reached its highest global smartphone market share in the last five years. Samsung has also regained the top position as the best-selling smartphone brand in Q1 2022 with a market share of about 24 per cent.
Samsung Regains Top Position In Smartphone Market
The main reason behind this success is the Galaxy S22 series and the affordable budget and mid-range smartphones. In 2017, Samsung reached this level of dominance in the smartphone market for the first time. Currently, the company holds a market share of 24 per cent. Back in 2017, Samsung had a market share of 25 per cent.
While Samsung is at the top, the second place goes to Apple with a 15 per cent share. Xiaomi took the third spot with a 12 per cent market share in Q1 2022.
It is worth mentioning here that, Samsung has just recently announced to cut down the production by about 30 million units due to several factors. Earlier, Apple announced dropping its plans to make 20 million extra iPhone units in 2022.
The main reason behind this decision of Samsung is due to the COVID-19 related lag and supply chain constraints. Apart from that, the ongoing component shortage and the crisis in Ukraine could be the reasons for Samsung’s reported cut in smartphone production.