Samsung Expects Significant Growth in Q2 2022, Was Frontrunner in March

The South Korean tech giant Samsung has informed that the company is expecting growth in double digits for the quarter ending June. This growth is expected because of the rise in sales of the 5G handsets across mid and premium price segment smartphones. A senior executive of the company has informed that the brand has a clear plan to maintain its leadership in the 5G smartphone market. In the previous quarter ending March, the company had witnessed a 9% value growth because of its S22 flagship series and A series smartphones.

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Samsung’s Smartphone Business Growth

According to a report from ET Telecom, the senior vice president of MX Business, Samsung India, Raju Pullan in a statement said that the company expects to continue this momentum. He added that the company exited March with the number one position in volume and value terms and expects to see double-digit growth in the second quarter. Moreover, Counterpoint research shows that Samsung was leading the smartphone market in March 2022 with 22% shipment share and 27% revenue share.

In addition to this Samsung managed to retake its second position in the first quarter of 2022 with a 1% year-on-year decline. The company was also the best 5G smartphone selling brand for the second continuous quarter. The senior VP further informed that the industry has seen strong and significant growth with the development of 5G technologies which has become a major consideration before the purchase of a handset.