As per a report by market research firm Canalys, global smartphone shipments shrank by 17% in the fourth quarter (Q4) of 2022. In fact, the firm said the Q4 drop was the worst performance for the smartphone market in over a decade. But even after this, the Canalys report has good news for Samsung company.
According to the report, Samsung turned out to be the world’s largest smartphone vendor in Q4 of 2022. This is for the first time since Q3 2017. Though Apple achieved its highest quarterly market share of 25% in the report and Samsung placed second with a 20% market share but Samsung turned out to be the biggest vendor overall.
When the annual market share was concerned, Samsung was at the top leaving other brands behind with a 22% market share. Seems like Samsung had a ‘good’ 2022 where as the other brands had a challenging year since the shipments have continued to fall.
Samsung now offers a variety of 5G phones at different price points and even Samsung is ready to launch the flagship Galaxy S23 series this year. Samsung appears to be on an upward trajectory. Looking at 2022 as a whole Canalys reported that Samsung was the number one brand with a 22% share.
According to Canalys analyst Le Xuan Chiew, in the report, vendors would approach 2023 with caution putting profitability and market share protection first.
