Shares in Korean tech giants Samsung soared on news that they had officially become the world’s largest manufacturer of mobile phones, replacing Nokia at the top spot, with an overall market share of 25.4%. In contrast, Nokia enjoys 22.5% of the market, while even Apple, notwithstanding the runaway success of the iPhone, can only claim a 9.5% market share. And therein lies part of the reason for Samsung’s success. When it comes to smart phones there are only two main players – Samsung and Apple – but whereas Apple only has one phone offering, Samsung has a wide range of mobile devices – smart phones and conventional mobiles - at different price points and with varying capabilities, so in effect they have something for everyone. In fact, Samsung is really on a bit of a roll at the moment because it can also lay claim to being the world’s largest maker of flat screen TVs as well.
The last twelve months have been extremely tough for the Finnish company Nokia with their share price decimated and now losing their position as the world’s foremost mobile manufacturer.
Much of Samsung’s success when it comes to mobile phones has been due to the demand for its range of Galaxy smart phones, the latest version of which – Galaxy 3 – is due for release at the start of May, a move which should ensure the company consolidates its position as the number one cell phone brand worldwide.