Business
Samsung slipped to sixth spot on the list of Best Global Brands for 2022
Samsung has been in the top ten list of Best Global Brands since 2012, with the company rising from 17th to 9th in a single year. Samsung continued to be successful for a number of years and peaked at number 8 in 2013. This year the company took another place and finally reached the top 6th Best Global Brands.
According to the latest research report performed by Brand Directory, the South Korean-based Samsung Group has a brand value of US $107.3 billion in 2022, an increase of 5% over the previous year, which allowed it to maintain its long-term position as the most valuable brand in Asia-Pacific, but fell short ranked sixth in the world rankings, surpassing Walmart.
Where Amazon came in second and Samsung was lower than Walmart on the list and Google came in third. WeChat continues to be the strongest brand in the region as well as in the world. Furthermore, the report states that Apple’s brand valuation has increased by 35% compared to 2021.
Samsung’s revenue has increased due to the release of new products. Amid the global supply chain crisis and high demand for memory chips, the brand has surpassed its competitors with high revenue in its chip manufacturing business.
In addition, to meet consumer demand, Samsung is setting up a new $17 billion computer chip plant in Texas. The tech giant has expanded its electronics offer with a new range of portable appliances as well as kitchen and home appliances.
Also, Samsung has launched a new initiative to join the global climate action effort. Recently, the brand has partnered with Patagonia to reduce the impact of marine pollution caused by microplastics.
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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”.
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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.