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Samsung tops global smartphone market with 21% share

Samsung tops global smartphone market with 21% share

New Delhi: World’s largest producer of electronic devices, Samsung has maintained the top position in the global smartphone market with a market share of 21 percent in the second quarter (Q2) this year, according to a new report.

Apple held second place with a 17 percent share, while Xiaomi secured third place with a 13 percent share as supply of its newly launched Redmi series recovered.

OPPO (including OnePlus) secured fourth place with a market share of 10 percent after a strong performance in the core markets of Asia Pacific, while Vivo came in fifth with an 8 percent share, driven by the new Y-series launches, the report mentioned.

The global smartphone market declined by 11 percent (year-on-year) in Q2 as gloomy demand started to impact market leaders like Samsung and Apple which had to reduce their sell-in the same quarter, according to Canalys.

Outside of the top two, the decline in smartphone shipments reveals signs of improvement as most vendors' inventory returns to healthier levels while macroeconomic conditions stabilize.

“The smartphone market is sending early signals of recovery after six consecutive quarters of decline since 2022,” said Le Xuan Chiew, analyst at Canalys.

There are indications that vendors are preparing for market recovery in the further future.

“On the other hand, vendors have not stopped investing in manufacturing and have a direct presence in emerging markets like Southeast Asia and India, which will be a strong driving force for sustainable growth,” Chiew noted.

According to another analyst Toby Zhu, it is vital for smartphone vendors to stay agile to react to new market signals and allocate their resources effectively.

“Eyes are on the upcoming Android players such as Transsion and Honor, which are determined to act fast in product refreshment and indulge in strategic go-to-market tactics to win over market share,” said Zhu.

With input from IANS

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