Apple has been giving Samsung a tough fight in the global smartphone market. And for the first time ever, last year, Apple shipped more iPhones annually than Samsung did. This doesn't look good for Samsung at all. What's even worse is that Apple's market share has reached a record high in Samsung's homeland, South Korea.
According to a new report from Counterpoint Research, Apple's smartphone market share breached the 25% mark in South Korea for the first time. Its market share has been increasing by 1% point every year since 2020, and it increased by 3% points in 2023. Over the past few years, Apple's market share in the Korean smartphone market has seen a sharp rise, while Samsung's market share has been declining. The South Korean firm's market share declined by 2% points last year. However, Samsung still has a 73% share of the South Korean smartphone market.
This rise in Apple's influence in South Korea is attributed to the MX Generation (people in their 20s and 30s). According to a report, 8 out of 10 pre-orders for the iPhone 15 were done by people in their 20s and 30s. In comparison, more than half of the pre-orders for the Galaxy S24 series were placed by people in their 30s and 40s. The iPhone 15 Pro Max, which is the priciest iPhone in Apple's lineup, costs KRW 2.5 million ($1,864), which is KRW 400,000 ($300) more than the Galaxy S24 Ultra. Despite a higher price, iPhones are selling more rapidly in the country.
Apple opened its first retail stores in South Korea last year. First, it opened Apple Gangnam in the high-end neighborhood. Then, the company opened the Apple Hanam store last year. Last month, the iPhone maker opened the Apple Hongdae store. Samsung also opened its flagship retail store, Samsung Gangnam, in the same neighborhood as Apple Gangnam, but it is being seen as a failure by experts and industry insiders.
