Counterpoint Research Aggregation
Market Share Up 14%P Compared to Previous Quarter
Samsung Electronics unveiled the foldable smartphones 'Galaxy Z Fold3' and 'Galaxy Z Flip3' at 'Galaxy Unpacked 2021'. On the 12th, customers visiting the Samsung Delight Shop in Seocho-gu, Seoul, are seen exploring the new products. The newly released products will be available for pre-order in Korea from the 17th to the 23rd and are scheduled for a global sequential launch on the 27th. Photo by Hyunmin Kim kimhyun81@
[Asia Economy Reporter Cha Min-young] Samsung Electronics has increased its market share to 85% in the domestic smartphone market in the third quarter by filling the gap left by LG smartphones. This represents a 14 percentage point increase compared to the previous quarter, attributed to the success of the new Z series.
According to Counterpoint Research on the 6th, after LG Electronics withdrew from the smartphone business in the first half of this year, the domestic smartphone market in the third quarter decreased by 9% compared to the same period last year due to supply issues of key components such as semiconductors. However, it increased by 8% compared to the previous quarter.
Counterpoint Research analyzed that Samsung led the overall market growth as the new foldable smartphones, Galaxy Z Flip3 and Fold3, released at the end of August, showed better-than-expected sales performance.
In the third quarter, Samsung recorded an 85% market share, up 14 percentage points from the previous quarter, by absorbing LG Electronics' market share through strong sales of foldable phones and strengthening the Galaxy A series.
Among individual devices, the best-selling model in the domestic smartphone market in the third quarter was the Z Flip3. Along with the Z Fold3, ranked fourth, Samsung's two third-generation foldable phone models sold nearly 1 million units domestically in the third quarter alone.
The Z Flip3 is evaluated to have captured the MZ generation customers by lowering the price compared to its predecessor while enhancing hardware such as excellent design, waterproof features, and dual speakers. The Z Fold3 is also praised for lowering the price compared to its predecessor and having the advantage of S Pen support.
Counterpoint Research forecasts that the domestic smartphone market in the fourth quarter will continue to grow compared to the third quarter, driven by steady demand for Samsung's foldable phones and the launch effect of Apple's iPhone 13 series. However, due to unresolved semiconductor supply issues and limited availability of some new models such as the iPhone 13 Pro and Pro Max, as well as weaker flagship lineups like Samsung's Galaxy Note and FE models and Apple's SE model compared to the usual peak season, the overall growth rate is expected to be modest.
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