- South Korean tech company Samsung has now reached number 1 in the smartphone market
- Samsung benefited from anti-China sentiment
- By August 2020, Samsung’s global market share reaches 22%
There is anger for China and Chinese goods over the treatment of Indian soldiers along the India-China border. Now China has to pay its price. According to a Counterpoint report, the crown of leader in the smartphone market has shifted from Xiaomi to Samsung. South Korean tech company Samsung has now reached number 1 in the smartphone market.
Got the benefit of anti-China sentiment?
The anti-China blaze erupted in June following a surge between forces. Anti-China sentiment was strong throughout the country. Many brands, including Samsung, which are not Chinese, have benefited from this.
Samsung overtakes Huawei globally
According to the report, Samsung has now also competed with the Chinese brand Huawei in the global market. As of August 2020, Samsung’s market share has reached 22%. As of April 2020, Samsung had a market share of 20%. This has changed in the last 6 months. In August 2020, Huawei’s market share fell to 16%. Its market share in April 2020 was 21%.
Apple is at a loss
Apple on Tuesday launched its first 5G iPhone. Shares of the company declined 4% on the US stock market just 1 day before the event. The company has suffered a loss of (i81 billion (about Rs 5.94 lakh crore). However, the stock recovered by the time the market closed.