Samsung experienced a drop in its worldwide market share across multiple business segments in 2024. The Korean firm reported market share declines in TV, smartphone, DRAM chips, and display panel businesses. The foundry division also suffered a massive market share drop. This is the first time since 2014 that Samsung has faced continuous major losses across all its business divisions.
Samsungโs market share decline across key segments
Samsung recently released its annual business report for 2024, and it doesnโt look great. While the company continues to lead the global TV market โ itโs the industry leader for two decades โ its market share dropped from 30.1% to 28.3%. The firmโs DRAM market share also saw a slight decline from 42.2% to 41.5%. These are concerning developments as Samsung is the worldโs largest maker of memory chips.
The smartphone display panel unit saw the biggest drop though, from 50.1% to 41.3%. Samsungโs smartphone shipments also declined to 18.3% from 19.7%. In automotive electronics, the companyโs market share dropped from 16.5% to 12.5%. Interestingly, Samsung maintained its top position in the global soundbar market in 2024, capturing a 20.1% market share in terms of value.
The Korean behemoth cites intense Chinese competition as a problem in the TV division. For the smartphone business, the company notes that AI and security are now as important as smartphone hardware in the business. It is still the leader in the DRAM market, but the competition is catching up to them fast.
To tackle those issues, Samsung is planning to further integrate its successful Artificial Intelligence into more of its products to maintain its competitive edge. Samsung has recently boosted 4nm chip production and conducted an audit of the System LSI Division to improve the business.
For the first time, Samsung has officially acknowledged multiple problems with the foundry business, particularly the yield rate. โThe success of advanced semiconductor processes depends on securing long-term demand, and we are focusing on stabilizing yield rates in existing mass production lines,โ says Samsung in its business report.
