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Due to the COVID-19 pandemic, spending time at home with smart gadgets becomes a daily habit, which eventually helped many tech companies to earn lumpsum profit via sales of smartphones, TVs, and home appliances.

Samsung also recorded a huge profit jump of 45 percent in the first quarter of this year, reports Refinitiv SmartEstimate. The report further suggests that the first quarter for the Korean tech giant is expected to have climbed by the operating profit of 9.3 trillion won ($8.2 billion).

However, Samsung is scheduled to announce the preliminary first-quarter results on Wednesday, but if the upcoming result matches with the above report then it will mark the company’s highest operating income since the first quarter of 2018.

What made Samsung earn such high-profit numbers?

There are many reasons for the profitable growth of Samsung, but the one that is worth mentioning is the early launch of the Galaxy S21 smartphone including S21+ and S21 Ultra, in January 2021.

According to Counterpoint Research, the Galaxy S21 was not only unveiled early but also was priced $200 less than its predecessor, which made the company grabbing a 23% share in the global smartphone market and setting a start for fast upcoming earnings.

Alongside, the frequent sales of premium Galaxy Buds also helped the Korean tech giant to reach the 4.15 trillion won. Besides, the company’s TV and home appliance business is expected to see an operating profit doubled to around 1 trillion won.

Apart from this, one department where Samsung didn’t do well is the ‘chipsets’. It is the only division where Samsung has struggled a lot as its semiconductor plant in Texas halted by the winter storm in mid-February.

Moreover, analysts have estimated that the losses related to the factory shut down were around 300-400 billion won. However, officials claimed that the production line now returned to normal as of late March. So, it is expected that this sector will also join the profit-earning departments quite soon.

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Samsung leads Q3 smartphone market, Huawei’s entry haunts Apple

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Samsung Galaxy S23 Ultra Z Fold 4 Beige

Samsung ranked first in market share in the global smartphone market in Q3, 2023. TrendForce report says that Samsung led the global Q3 smartphone market, recording a market share of 19.5%.

Overall production in the third quarter increased by 11.5% compared to the previous quarter to 60.1 million units. During the same period, Apple’s production increased by 17.9% to 49.5 million, thanks to iPhone 15.

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Third place was taken by Xiaomi (13.9%), followed by Oppo (12.6%) and Transion (8.6%). 6th place is Vivo (8%). Meanwhile, global smartphone production reached 308 million units, a 13% increase compared to the previous quarter and a 6.4% increase from the previous year.

Huawei’s re-entry into the flagship smartphone market targeting Apple has had a significant impact in China. Huawei is aiming to expand its high-end flagship series, focusing on the Chinese domestic market next year, so Apple “We plan to attack directly”.

Samsung Q3 2023 Smartphone Market TrendForce

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Underdog phone brand jumped 50%, Samsung and Apple lost ground

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Samsung 55th shareholders meeting

In Q3 2023, Samsung and Apple’s market share slightly declined, while an underdog Chinese phone brand appeared on the top 5 chart. In a recent development, Canalys published market research data for the third quarter, revealing Tanssion as the fifth best-seller globally.

According to the info, Samsung and Apple lead total sales with 20% and 17% market share, yet both have fallen from their 22% and 18% levels in 2022. However, Tanssion, the maker of Tecno, Itel, and Infinix phones, climbed from 6% global market share last year to 9% in 2023, a 50% jump.

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Apart from this, Xiaomi matched last year’s share only by “recovering” from a terrible first half of 2023. At the same time, OPPO has fallen steadily over the past two years, while fellow BBK brand vivo lost the top-5 slot it’s owned for years.

Overall, the global smartphone market underwent a slight drop of 1% in Q3 2023. Bolstered by regional recoveries and new product upgrade demand, the smartphone market recorded a double-digit sequential growth in Q3, ahead of the sales seasons.

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Samsung enjoyed 2023’s last victory over Apple?

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Samsung smartphone

Recently, research agency Counterpoint Research published their latest analysis. The report reveals that Samsung continued its leadership in the third quarter of 2023, while Apple remained in the second spot. However, both OEMs faced a decline of 1 percent year over year.

According to CR, slower consumer demand is the main factor in the dwindling sales. The market did see a slight 2 percent growth in Q3 compared to Q2, likely driven by last month’s iPhone 15 series launch. Samsung secured 20 percent market share, while Apple grabbed 16 percent sales.

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The Galaxy A-series was the key driver for the South Korean smartphone maker. Apple came in second with 16 percent of the market while Xiaomi rounded out the top three with its 12 percent share. Oppo (10 percent) and vivo (8 percent) were the remaining brands in the top five charts.

The newly released iPhone 15 series will help Apple score a lead over Samsung in the fourth quarter of the year. The results will arrive by early next year, and it’s expected that the US phone maker could surpass Samsung. Major camera upgrades and USB-C helped Apple register strong sales.

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