The South Korean based tech giants Samsung Electronics has reported that it managed to increase its profit share in the third quarter of this year. In the company’s smartphone segment, it reportedly managed to increase over 30 percent of its profit share. In the third quarter alone, Samsung’s smartphone business contributed a 32.6 percent share of the global profits in the smartphone segment. Last year the company had an outstanding performance in the smartphone segment, but this year, the profit shares increased by 18.8 percent in comparison to previous years’ performance.
Samsungs highest recorded profit share was in 2014 when the company managed to get an increase of 37.9 percent in profit shares. The new earning in Q3 of 2020 is the companies second-highest increase since Q2 of 2014.
With various restrictions being put on the import of Chinese technologies, Samsung has surpassed Xiaomi and has become the leading smartphone brand in the Indian market. But when it comes to the global market, Apple is still the leading Smartphone brand. The Cupertino giant managed to secure a 60.5 percent profit share in the third quarter.
Though Apple may be leading in the worldwide sector of smartphone makers, its operating margin has reduced to 21 percent due to the late release of the iPhone 12 lineup. Whereas, Samsung’s operating margin increased to 14 percent as opposed to 11 percent in the same quarter last year. In the Q3 of 2020, Samsung’s revenue share stood at 22.6 percent in the third quarter, while Apple leads with 29.5 percent during the same quarter.