After a couple of years of slowdown due to the coronavirus pandemic and an unprecedented semiconductor shortage, the global smartphone market is expected to return to pre-pandemic levels in 2022. Market leader Samsung has a plan ready to cash in on this growth, Korean media reports.
Samsung reportedly estimates a total of 1.52 billion smartphones to be sold globally next year, up 7.6 percent year-on-year (YoY) from 2021. The company is aiming to capture a 21.9 percent share of the market, The Elec claims. The publication cites Samsung’s official smartphone shipment plan for 2022. The Korean firm had reportedly shared the info with its major suppliers.
Looking at the figures for recent years, Samsung is expecting quite an upturn in its fortunes. The Korean giant has had its market share steadily decline over the past few years. It had captured 20.9 percent of the market in 2019, 19.6 percent in 2020, and around 19 percent this year.
So how does Samsung plans to bring about this upturn? Of course, for the company to increase its share, other firms will have to lose ground. To that end, it believes that it hasn’t fully capitalized on the void left by Huawei. Chinese firms such as Oppo, Vivo, and Xiaomi have benefitted more from their compatriot’s demise. Their combined market share has risen from 43.8 percent in 2019 to 47 percent in 2020. Apple has eaten up some of that market this year, with the Chinese trio limited to a combined market share of 45.5 percent.
Samsung is now planning aggressive marketing campaigns to grab a portion of that pie as well. It wants to further limit Oppo, Vivo, and Xiaomi to less than 45 percent of the market in 2022. The Korean firm also expects Apple’s share to drop below 17 percent next year. The Cupertino-based iPhone maker has increased its market share from 14 percent in 2019 to 15.8 percent in 2020 and 17.2 percent in 2021.
Samsung is aiming for a big improvement in its smartphone market share in 2022
Many people have been holding off purchasing new smartphones in the past two years because of the financial uncertainty around the still-ongoing global health crisis. But as the pandemic continues, the spending trend on smartphones is rising. Not least because users are reaching the replacement cycle of their smartphones.
Samsung is now looking to take advantage of this increased demand. And it’s not just hoping other brands lose ground but also launch a flurry of smartphones at various price points in quick succession next year. According to the new report, Samsung will launch the Galaxy S21 FE in January, Galaxy S22 series in February, Galaxy A33 and Galaxy A53 in March, Galaxy A23 in April, and the Galaxy A73 in May.
The Korean behemoth is reportedly aiming to sell 33 million units of the Galaxy S22 series. That includes 14 million vanilla Galaxy S22, eight million Galaxy S22+, and 11 million Galaxy S22 Ultra. Additionally, it is estimating the Galaxy A23 and Galaxy A33 series to sell a whopping 267 million units. Lastly, the Galaxy A53 and Galaxy A73 could ship 92 million units. Time will tell whether Samsung manages to achieve its smartphone shipment target for 2022.