Samsung Electronics Co.’s share in the South Korean smartphone market exceeded 70 percent from July to September thanks to the sound sales of its premium Galaxy Note10 series.

According to market tracker Counterpoint Research on Wednesday, its share in the local smartphone market rose 3 percentage points from the previous quarter and 4 percentage points from a year earlier to 71 percent in the third quarter. The company attributed the market share gains to the strong sales of its flagship Galaxy Note10 and Note10 Plus launched August.

LG Electronics Inc. came in second by taking up 17 percent in the market on the back of the steady sales of V50 ThinQ released in May. Apple’s share fell 3 percentage points from a year ago to 11 percent.

The market research firm said the share of the American tech giant dropped due to the lack of 5G models and launch of new iPhones in the fourth quarter.

Samsung’s products accounted for seven out of 10 best-selling smartphones in the third quarter, according to the data. The top 4 best sellers were all 5G-enabled models.

Lim Soo-jung, a researcher from the company, said that smartphone sales in the third quarter were boosted by the generous subsidies and aggressive marketing efforts from the manufacturers and wireless carriers despite their heavy price tags. The domestic smartphone market is expected to continue the growth momentum in the last three months of the year thanks to the new models including LG V50S 5G and iPhone 11 series launched in October and year-end shopping spree, Lim added.

By Pulse

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