Samsung and Apple gain smartphone revenue share as Chinese rivals lag

Revenue from smartphones in India for Samsung and Apple grew 14% and 27%, respectively, on year in calendar 2022 to a combined $14 billion plus, mainly driven by their premium segment portfolio. The growth by the two global giants offset declines by Chinese handset brands such as Xiaomi and Vivo in an industry which ended last year with flat revenue growth at $38 billion, despite shipments falling 9%, market trackers said.

Market leader Samsung earned over $8 billion in smartphone revenue last year, giving it a 22% market share – up 3 percentage points on year – as it benefitted from a portfolio that covered all price points, but with the premium segment being the main driver, according to data provided by Counterpoint Research.

Brick and mortar stores drove the majority of revenue for the company, which has recently regained the top slot even by volumes. Cupertino-based Apple’s top line from iPhone sales stood at over $6 billion last year, capturing 18% revenue share – a 4 percentage point jump over 2021, as per Counterpoint.

The iPhone 13 was the highest selling smartphone for the company in 2022, driven by consumers’ appetite for high-end smartphones, and Apple’s strong expansion in large-format retail stores and festive discount sales. IDC India said Apple’s revenue crossed $8.5 billion in 2022, 75% of which was driven by iPhones, 22% by personal computers and 3% by wearables.

Top Chinese brands Xiaomi, Vivo and Oppo saw their revenues fall to over $5 billion, over $5.5 billion, and above $3 billion, respectively, in 2022, Counterpoint said.