The company reclaimed the smartphone sales crown from Apple in Q1 2023 even if it had its worst quarter in fourteen years, largely due to a slump in the semiconductor chip market.
In the first quarter, Samsung sold 22 per cent of all smartphones globally. In fact, if Samsung had not been busy showing Apple how it is done it would have posted its first quarterly loss in decades. The Galaxy S23 lineup sold really well, as much as 70 per cent higher than the Galaxy S22 series in some markets.
Apple dropped down to the second position with a market share of 21 per cent in terms of sales.
Xiaomi stood at the third position in global smartphone sales, with an 11 per cent market share. OPPO (including Realme and OnePlus) captured a 10 per cent 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.