Samsung’s market share climbed to 22.4% in the second quarter from 21.3% in the same period in 2015, according to data released by tech research group IDC.
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Smartphone vendors shipped a total of 343.3 million smartphones worldwide last quarter. While the Android and iOS duopoly doesn’t look like it’s going away anytime soon, the Samsung-Apple duopoly continues to erode.
Apple released its quarterly results on Tuesday where the company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion.
Samsung Electronics Co. reported Thursday forecast-beating earnings results that were the best in two years as consumers snapped up its Galaxy smartphones, in a sign the company is getting its mojo back while rivals fail to deliver new smartphones. The company’s mid-to low-end smartphone portfolio, including the Galaxy A and J series, also contributed to improved profitability, it said. Operating income at the chip unit was 2.64 trillion won, compared with 3.40 trillion won a year earlier, as weaker demand pressured component prices.
The mobile business accounts for the lion’s share of the Samsung’s overall profit, which has been increasingly squeezed by competition both from Apple’s iPhone and by lower-end devices from Chinese rivals such as Huawei. The company said that it expects to maintain “solid sales” through the third quarter with the launch of “a new large-screen flagship smartphone;” the Galaxy Note 7 will be announced shortly.
“(Following the rollout of Galaxy Note 7), we will still retain the price of Galaxy S7”, Lee Kyung-tae, the chief of Samsung’s mobile business division, said in a conference call.
Samsung was the biggest beneficiary of sluggish sales of Apple Inc’s iPhone 6S models, as United States wireless carriers promoted S7 phones, helping to reduce Samsung’s own marketing expenses. The company plans to expand the proportion of high value-added products such as flexible and high-resolution displays in its product mix.
Second-quarter net profit rose 1.65 percent on year to 5.84 trillion won.
The world’s second-largest smartphone maker and its competitor, Apple is struggling to boost iPhone sales.
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Samsung’s second quarter financial report of 2016show that the company has been able to surpass its projected profits thanks to the high sales of Galaxy 7. He is based in Taiwan.
