With the ongoing global pandemic, many companies have been facing a hard time trying to keep afloat. However, Samsung was able to record the highest Smartphone profit share in the global market in six years. The company also managed to surpass the profits of other major companies in the industry.
Samsung, with its high profits, has made overshadowed Apple in the US and Xiaomi in the Indian market. The company has also narrowed down the gap with Apple in terms of smartphone profit share.
In the third quarter of 2020, Samsung achieved a profit share of 32.6 percent, which is significantly up from 18.8 percent from back in 2019. This is the highest profit share the company earned in the past six years. The last high was a 37.9 percent profit share back in Q2 2014.
However, Apple still remains the world’s most profitable smartphone brand, with a 60.5 percent profit share. This figure is down from 66.9 percent from last year since the company saw a fall in operating margins with the release of the new iPhone 12 series. In comparison, Samsung noted growth in operating margin, rising from 11 percent in Q3 2019 to 14 percent in the same quarter this year.
Moreover, Samsung Electronics’ global smartphone revenue share was 22.6 percent, while Apple had a revenue share of 29.5 percent during the same period.
