In Q4 2022, Samsung lost its number-one position to Apple in the smartphone market. However, the company reclaimed the smartphone sales crown from Apple in Q1 2023. While the company had its worst quarter in fourteen years, largely due to a slump in the semiconductor chip market, the company has some good news about its smartphone business.
Samsung sold 22% of all smartphones globally during Q1 2023, claiming the top spot
If not for its smartphone business, Samsung Electronics could have posted its first quarterly loss in decades. The Galaxy S23 lineup sold really well, as much as 70% higher than the Galaxy S22 series in some markets. The South Korean firm sold 22% of all smartphones globally during Q1 2023 and ranked at the number one position. However, that's still two percentage points lower than Samsung's Q1 2022 numbers (24%). Apple dropped down to the second position with a market share of 21% in terms of sales. However, the US-based tech giant might still be the number one brand when it comes to revenue.
Xiaomi stood at the third position in global smartphone sales, with an 11% market share. OPPO (including Realme and OnePlus) captured a 10% share of the global smartphone market, while Vivo is treading steadily at the fifth position. According to Canalys, a market research firm, global smartphone sales remained below the usual 300 million mark, showing that the market is going through a slump due to the ongoing global economic downturn and inflation.
The research firm says that the smartphone market will get more stable by the end of Q2 2023. Many experts believe that the smartphone market will go back to its usual levels by Q4 2023. Samsung will launch two new foldable phones—Galaxy Z Flip 5 and Galaxy Z Fold 5—and three new tablets—Galaxy Tab S9, Galaxy Tab S9+, and Galaxy Tab S9 Ultra—in Q3 2023. And that should help the company drive more sales in the second half of the year.
