Market analysis firm Canalys Report According to , Samsung’s market share in the third quarter of the current year was 18 percent. However, the company’s market share has declined by three percent on a year-on-year basis. Apple has secured second position in the third quarter with 17 percent market share. In the same period last year, the company’s market share was around 18 percent.
There has been a significant increase in smartphone sales during the festive season in India. The first sale of the festive season ran between 26 September and 6 October. In this, Amazon, among the big e-commerce companies, had organized the Great Indian Festival Sale and Flipkart had organized the Big Billion Days Sale. Other retailers also organized sales during this period. In a media report quoting a survey conducted by TechInsights, it has been said that in the first sale of the festive season, the sales of smartphones have increased by 11 percent on a year-on-year basis. This sale lasted for 11 days. In the last few years, the duration of this sale was seven-eight days. Samsung ranks first in terms of volume in smartphone sales. It has achieved about 20 percent market share. Galaxy M35, Galaxy S23, Galaxy A14 and Galaxy S23 FE have been the best-selling models for the company.
The major reasons behind the increase in festive sales this year are the longer duration of the festive season, improvement in marketing strategy and increasing discounts by smartphone companies. However, Samsung is also facing difficulties in its business. The company has prepared to lay off a large number of its workers in many countries. This may result in a reduction of about 10 percent in the company’s workforce in some countries. It is facing tough competition from rivals like SK Hynix in the market of memory chips used in Artificial Intelligence (AI).
