Samsung Market Share Drops to 28 percent in 2014

2014 was somewhat a rough year for Samsung, as its smartphone market share slipped almost 5 percent from others.

According to TrendForce, Samsung continued to lead the market in 2014, having 28 percent of the smartphone market, but that number had fallen from 32.5 percent in 2013. Meanwhile, Apple maintained a steady year-over-year number bagging second place, accounting for 16.4 percent of over-all smartphone shipments in 2014. The iPhone maker held 16.4 percent of global market share in 2013.

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Lenovo's new prize posetion-Motorola took the third spot in 2014 with 7.9 percent smartphone share, followed by LG at 6 percent and China-based Huawei at 5.9 percent, TrendForce reports.

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TrendForce's data provides key insight into a smartphone business that is growing rapidly. The company's data pin points, that the smartphone market grew from 927.2 million global shipments in 2013 to 1.2 billion in 2014. It's getting harder for a company like Samsung to cope up to the competition, which has been facing trouble, to maintain its lead as the competition expands.

TrendForce's findings are the latest reports which act as bad news for Samsung's smartphone operation. Over the past few quarters, Samsung has faced increasing competition in major markets, such as China, where tough competitors like Lenovo, Huawei and Xiaomi continue to gain market share.

Samsung has acknowledged the fact that with each passing quarter that it's having trouble in the smartphone space. The company also said that it may have made a mistake in 2014 by offering too many smartphone models and not focusing enough on key products.

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Samsung announced in November that it would cut the number of smartphone models it produces in 2015 to 30 percent. The news came after the company reported that its third-quarter income on mobile had tumbled down to 74 percent and its operating profits were the lowest they had seen since the middle of 2011.

Stay tuned to GizBo for more updates!