Apple and Samsung Net a Crazy 96% of Operating Profits While Rest of the Manufacturers are Fighting for Leftovers
Apple and Samsung are two of the biggest names in the industry, both by their brand equity and market share. Both companies have managed to occupy top slots in almost every quarter globally, and the latest market research shows just how dominating these companies have become.
Counterpoint Research has published its Q1 2023 smartphone market share report, and the findings are interesting. Samsung, obviously, grabbed the top spot with a 22% market share. Apple took 21%, still a significant piece of the pie. But things started changing from that point.
Xiaomi took home only 11% share, with Oppo and Vivo being the other two companies, Oppo took home 10% and Vivo took just 7% of total market share. However, Apple's operating profit is 72% higher than Samsung, clearly showing how the company holds the market in a chokehold. You can have a look at the chart below.
Furthermore, the firm has also mentioned how Apple and Samsung combined managed to account for 96% of global smartphone operating profit, with Apple having over 80% of the profit. The firm also pointed out that Samsung's average selling price in the first quarter sat around $340, which is a 17% increase from last year. Whereas Apple still manage to take the biggest piece of the cake home.
What is funny is despite Xiaomi coming forward with devices like the Xiaomi 13 Ultra, Apple and Samsung manage to be the absolute behemoths there are. Even more interesitng is the fact that Google is not even in the list. However, that could soon change considering how the company has no less than five Pixel devices planed for this year
Only yester Apple posted an impressive $94.8 billion in revenue for the second quarter, and this just goes to show how the company knows what they are
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