Q3 Domestic Smartphone Market Down 2%... Flip4 Tops Sales Volume

Market share of domestic smartphone manufacturers in Q3 2022. Image by Counterpoint Research

[Asia Economy Reporter Oh Su-yeon] Global market research firm Counterpoint Research reported that the domestic smartphone market in the third quarter decreased by 2% compared to the same period last year. Despite the expanded economic uncertainty due to the impact of inflation, the decline was only slight.

Samsung recorded a market share of 84%, supported by the continued popularity of mid-to-low-end smartphones and the launch effects of the Galaxy Z Flip 4 and Fold 4. This represents a 1 percentage point (P) decrease compared to the same period last year, but a 7%P increase compared to the previous quarter.

Apple maintained a market share of 13% in the third quarter, similar to 12% in the same period last year, due to the off-season effect ahead of the iPhone 14 series launch in the fourth quarter. This is an 8%P decrease compared to the previous quarter. Other brands, including Xiaomi led by the Redmi Note 11, slightly increased their market share.

Top 10 Best-Selling Domestic Smartphone Models in Q3 2022. Image by Counterpoint Research

The best-selling models in the domestic smartphone market in the third quarter were the Galaxy Z Flip 4 and Fold 4. In particular, despite the high price, the Fold 4 received favorable reviews for improvements in heat generation and finishing materials compared to its predecessor, showing a better trend than the previous model, according to Counterpoint Research.

Among mid-to-low-end models, Samsung's carrier-exclusive models Galaxy Quantum 3, Jump 2, and Buddy 2 ranked high in sales by emphasizing cost-effectiveness.

Lee Yoon-jung, a research fellow at Counterpoint Research, said, "The domestic smartphone market in the third quarter of 2022 performed well thanks to the launch effects of the Galaxy Z Flip 4 and Fold 4, but the situation in the fourth quarter does not look easy. Amid the ongoing consumption contraction, the momentum of the Galaxy Z Flip 4 and Fold 4 has weakened in the fourth quarter, and the iPhone 14 series launched in October is facing initial supply issues with the highly demanded Pro and Pro Max models, making it difficult to inject significant vitality into the domestic smartphone market."