In the third quarter, Samsung Electronics has emerged as a significant player in the smartphone market, securing a staggering 84% of market share. The South Korean tech giant, renowned across the globe for its innovative gadgets, showcased its prominence in the flagship store located in Gangnam, a district in southern Seoul.

As the popularity of high-end gadgets suffered a slight decline, Samsung Electronics remained unaffected and continued its impressive sales momentum. By the end of the third quarter, the company accounted for over 80% of smartphone sales across Korea, as revealed by data on Monday.

There were approximately 3.4 million smartphone units sold in the country between July and September. Interestingly, this figure marked a decrease of 10% as compared to the corresponding statistics from the previous year, as released by Counterpoint Research.

Despite a small setback in total smartphones sold, Samsung continued to dominate the market, bagging an incredible feat of 84% total sales. Much of this can be accredited to the popularity of its latest foldable models, the Galaxy Z Flip 5 and Fold 5.

Apple, another leading player in the smartphone market, saw a slight increase in its market share throughout the same period. Despite the delayed launch of its most recent iPhone 15 series, it secured an extra 2% points, bringing its total share to 15%. The iPhone 15 series became available for purchase in stores only in October.

Other smartphone manufacturers, including renowned companies like Motorola, combined only held a meagre 1% of the market, highlighting the dominance that both Samsung and Apple hold.

Reported by KIM JU-YEON from YONHAP, these statistics are a testament to the market control held by tech behemoths like Samsung and Apple, and the fierce competition that new brands face as they seek to establish their presence in this saturated and competitive market.