Samsung again leads the market in Q1 2023, slipped hands in terms of revenues and profits

Nearly all manufacturers are done launching their Quarter First’s revenue and operating profit reports. Besides the manufacturer’s individual reports, Counterpoint also launches its research report at the end of the quarter. Counterpoint’s report basically shows us an overview of the whole smartphone market. They have recently launched a research report for the first quarter of the year 2023. So, let’s take a look at this complete report.

As per Counterpoint’s 1Q23 report, despite the loss in sales, the Korean firm Samsung maintained its leadership in the smartphone market. It was possible for Samsung to maintain its place just because of its market share. However, it still slipped its hands over revenues and profits, where iPhone parent Apple won the game and made it to the top. Notably, not only Samsung but other OEMs are also disappointed with this quarter.

Samsung One UI 6.0 will first reach to these Galaxy smartphones

Informatively, in this year’s starting three months, the overall smartphone market has seen a drop of 14% as compared to last year’s first quarter. In this 1Q23, 280.2 million smartphones shipped, while in 1Q22, the total shipment was 326 million units. As for the Korean firm Samsung, they sold a total of 60.6 million smartphone units in the first three months of the year, which is 19% less than the units sold in 1Q22.

However, there isn’t a big difference between Samsung and Apple, as the Cupertino company has recorded 58 million units in sales, which isn’t that less than Samsung’s sales. Besides sales, Counterpoint also made a report regarding the market revenue and operating profits that Samsung lost to Apple. However, just like sales, Samsung and Apple’s market shares as well have a smaller difference of just 1%.

In terms of market revenue, Samsung has gained around 20% market revenue which is nearly 31 points less than Apple’s. However, they both are the only ones who managed to exceed 10% or more than it. Overall, we can say one thing both market rivals- Samsung and Apple are nearly on the same boat with just a smaller difference.