The Hit Smartphone in Q1 Korea is Galaxy S21... Samsung's Market Share at 67%

Counterpoint Research Announcement on the 30th

[Asia Economy Reporter Cha Min-young] The Galaxy S21 was found to be the best-selling model in the domestic smartphone market in the first quarter of this year. Thanks to the early success of the Galaxy S21 series, including the standard model, Samsung Electronics' market share (MS) also recovered to the 60% range, rising from 58% in the fourth quarter of last year to 67% in the first quarter.

According to global market research firm Counterpoint Research on the 30th, the domestic smartphone market grew by 21% year-on-year in the first quarter.

The growth of the domestic smartphone market was largely due to the base effect caused by the spread of COVID-19 in the first quarter of last year. However, it is also analyzed that Samsung's early release of the Galaxy S21 series in January to counter the popularity of Apple's iPhone 12 had a significant impact in the first quarter of this year. In particular, the Galaxy S21 showed strong sales thanks to its price under 1 million won, pre-order benefits, and promotions from mobile carriers. Samsung's domestic smartphone market share also recovered to the 60% range.

The best-selling model in the first quarter of 2021 was the Galaxy S21. It appealed to consumers with a price under 1 million won, which seems to have coincided with the increased demand from the MZ generation seeking unlocked phones and budget carriers.

Counterpoint Research also analyzed that the poor performance of the Galaxy S20 last year contributed to the success of the Galaxy S21. The Galaxy S20's release coincided with the spread of COVID-19, and its relatively high price burden led to sales results falling short of expectations. In this situation, the demand from Samsung customers waiting for the new S series and Samsung's sales strategy aligned well, resulting in the Galaxy S21 series occupying all the top-selling models.

The second place went to Samsung Electronics' budget LTE model, the Galaxy A31, released in May last year. Despite its low price, the Galaxy A31 features a quad camera and a large-capacity battery, making it an alternative for users hesitant to switch to 5G plans, and it appears to have maintained long-term popularity.

However, the domestic smartphone market is expected to shrink somewhat in the second quarter. The effects of new releases from Samsung and Apple will diminish, and at the same time, due to LG Electronics' production suspension and reduced inventory sales, the market is expected to contract compared to the previous quarter and slightly decline year-on-year.

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