Samsung tops global smartphone market in Q3 despite shipment decline

Samsung Electronics maintained its status as the world's leading smartphone manufacturer in the third quarter, despite a significant decline in overall smartphone shipments, according to industry data released on Monday. The company shipped 57.8 million smartphones during the July-September period, marking a 5% decrease from the previous year. However, Samsung's market share remained steady at 22.7%, accounting for the second-highest share of global shipments, according to Omdia, an industry tracker.

The slowdown in the global smartphone market was substantial, with shipments declining by 20% compared to the same period last year. Omdia credited Samsung's success to the strong sales of its Galaxy A series, which catered to the growing demand for midrange devices. The company's diverse product lineup, including the recently launched Galaxy Z Fold 8 series, also played a crucial role in solidifying Samsung's position in the premium segment.

Apple Inc. secured the second spot in the global smartphone market, with shipments of 56.5 million units, maintaining a stable market share of approximately 22.2%.