This year was a fortune for Samsung as the Korean Giant has outperformed everyone in the smartphone segment during the Q3 of 2020, Samsung has also hit a record profit in this quarter as compared to the same quarter during the last 6 years. The company has managed to beat Apple in the US and dethroned Xiaomi in the Indian market. Now, it is being reported that the company managed to achieve its highest profit share in the global smartphone market.
The report from Strategy Analytics states that Samsung narrowed the gap with Apple in terms of smartphone profit share. The South Korean tech giant’s profit share was 32.6% during Q3 2020, which is up from 18.8% that it achieved in Q3 2019. These are Samsung’s highest numbers in over six years since it had a 37.9% profit share in Q2 2014.
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Apple is still the world’s most profitable smartphone brand with a 60.5% profit share, but its share was down from 66.9% that it had last year. The company’s operating margin dropped with the release of the iPhone 12. In contrast, Samsung’s operating margin increased to 14% from Q3 2019’s 11%. Samsung’s global smartphone revenue share was 22.6%, while Apple’s revenue share was 29.5% during Q3 2020. In terms of smartphone shipments, Samsung’s market share was the highest, at 21.9%. The Chinese firm Huawei had a market share of 14.1%, and Xiaomi’s market share was 12.7%. Apple slipped to the fourth position with a market share of 11.9%.
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