Business
Samsung lost its top spot in the wearables market in India in 2Q21
Recently, the industry analyst International Data Corp (IDC) released a report for India’s wearables market grew by 118.2% year-on-year (YoY) at 2Q21 (April-June), exporting 11.2 million units. Strong exports from home products to earphones and watches have encouraged this growth.
Talking about Samsung, the company lost its top spot in the wearables market in India in the second quarter of the year, as its competitors expanded their presence.
The South Korean technology giant registered a 7.9 percent market share for the period April-June, down sharply from its 30.4 percent share last year, ranking third in the Indian ear market.
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Samsung’s exports of smart ear products, including wireless earrings, headbands, and headphones, dropped by 44.6 percent year on year, as Indian consumers apparently preferred to buy devices from domestic companies.
BoAT, an electronic brand from Imagine Marketing Private Ltd. based in India, became a leading player after its market share more than doubled to 45.5 percent in the second quarter, with its exports of ear-wearing devices sending 424 percent a year increase.
OnePlus, an electronic product from BBK Electronics of China, took second place with an 8.5 percent market share, up from 5 percent last year, after its exports grew by 264.2 percent a year.
Its compatriot Realme slipped to the fourth spot with a market share of 5.5 percent, down from 14.3 percent a year earlier. India’s wearables market increased by 113.1 percent per year to 9.2 million units in the second quarter and remained the largest category in wearable products.
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.
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.
A new report reveals that Samsung will participate as an anchor investor for Arm’s upcoming IPO after taking a conservative approach to the matter due to a perceived overvaluation and regulatory risk.
Samsung opted to make an investment in the chip designer, joining a slew of other industry players including Apple, Nvidia and Intel. Amazon, which was earlier rumored to be participating in the IPO, decided to step out.
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It’s worth mentioning that the strategic investors have agreed to invest between $25 million and $100 million each. The specific amount for each company hasn’t been disclosed yet.
This means the offering price will come in between $47 and $51 per share. It makes Arm’s valuation between $50 billion and $55 billion, down from the initial estimation of $64 billion.
Arm’s IPO on Nasdaq, which is expected in September, is considered to be the biggest IPO deal of the year. The company controls a majority of the world’s application processor market, designing and licensing basic blueprints for chips.