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Samsung tightens its grip in South Korea: whopping 70% market share in July
According to local news outlet Maeil Business Newspaper, Samsung is expected to increase its already impressive lead in the South Korean mobile market. After dominating the smartphone market in the first half of 2012 with a share of 66%, company executives predict that Samsung will reach an unprecedented 70% market share in July.
According to a high-ranking Samsung official, the electronics mammoth already controls almost 69% of the fast growing LTE-enabled phone segment. The strong push into the LTE segment is one of the factors that explain Samsung’s blow out performance. Phones like the Galaxy S2 HD LTE and the Galaxy S3 (which sold a record-shattering 50,000 units in the first day of availability) have contributed massively to the good numbers that Samsung is expected to announce soon. Along with the Galaxy S series, another growth engine was the Galaxy Note phablet (of which we expect a successor at the beginning of autumn).
Over the last three years, Samsung hovered around 50% of the market share, with the rest of the pie going to two other local players, LG and Pantech. It’s important to realize that the South Korean mobile market is atypical, as it’s an almost completely local affair – foreign manufacturers such as HTC or Sony account for a measly three percent of the market. Nevertheless, Samsung’s performance is nothing short of amazing.