"Best Value Budget Model" Galaxy A31 Tops Domestic Sales Last Year

[Asia Economy Reporter Eunmo Koo] Last year, the preference for budget smartphone models stood out in the domestic market. As the COVID-19 pandemic intensified economic uncertainty and dampened consumer sentiment, demand for affordable yet practical budget models expanded.

According to market research firm Counterpoint Research on the 18th, the domestic smartphone market shrank by 6% compared to the previous year. The share of 5G smartphones increased by 20 percentage points from 26% the previous year to 46%.

By price range, smartphones priced under $400 (approximately 440,000 KRW) accounted for the largest portion, with a sales share rising 7 percentage points from 34% in 2019 to 41%. Conversely, the sales share of smartphones priced above $800 decreased from 40% to 32% during the same period.

With the popularity of mid-to-low-end models, the best-selling smartphone in Korea last year was also a budget product, Samsung Electronics' Galaxy A31. Despite its launch price in the 300,000 KRW range, features such as a quad (4) camera supporting macro shots, a large 5000mAh battery, and Samsung Pay support were evaluated as key factors for its popularity.

By manufacturer, Samsung Electronics ranked first with a market share of 65%. Although the flagship Galaxy S20 series underperformed somewhat, the Galaxy A series performed well, and the Galaxy Note20 series released in the second half of the year also received a positive response. Apple followed with a 20% market share. The iPhone SE and iPhone 12, released last year, showed strong sales, increasing Apple's share by 2 percentage points compared to the previous year.

On the other hand, LG Electronics remained at 13%, down 3 percentage points from the previous year, as flagship models like Velvet and Wing consecutively failed and mid-to-low-end models did not show clear results.

Lee Yoon-jung, an analyst at Counterpoint Research, said, "The A series played a major role in Samsung maintaining solid performance last year," and added, "With rumors of LG Electronics' smartphone business being sold or downsized, Samsung Electronics and Apple's positions in the domestic market are expected to strengthen further this year."

This content was produced with the assistance of AI translation services.