Leading Asian consumer electronics companies 2022, by sales

In 2022, the sales revenue of Samsung Electronics amounted to over 244 billion U.S. dollars. Major Taiwanese multinational electronics manufacturer hon Hai Precision, known as Foxconn, followed in with sales of 214.6 billion U.S. dollars in 2022.

Asia’s role in consumer electronics

The consumer electronics industry has greatly advanced and evolved, eventually becoming an influential sector in the global market. The supply chains and globalization have played a vital role in the success of the consumer electronics industry. This is the case for the Asian consumer electronics companies and for the Western ones as well. For example, the success of smartphones as one of the most mass-marketed products ever has greatly benefited from cheaper labor and efficient supply chains in Asia. At the same time, consumer demand in the Western economies has played a crucial role in driving the industry forward. To illustrate, the success of Foxconn Technology Group's revenue, the world's largest contract electronics manufacturer, is partially attributable and intertwined with the success of Apple, and the ubiquity of Apple's products is concurrently attributed to Foxconn.

Samsung’s multifaceted path

Besides being a primary manufacturing hub for consumer electronics, countries such as Japan, South Korea, and China are at the forefront of cutting-edge technology and innovation. For instance, Samsung Electronics, a South Korean conglomerate, is the second-largest company based on sales of consumer electronics worldwide. Samsung also holds the largest smartphone market share globally and was a market leader in the global semiconductor industry, with nearly 10 percent of the worldwide semiconductor market revenue share in 2022. Semiconductors are at the very heart of electronics produced today. With the recent semiconductor shortages caused by the pandemic, it became clear that having direct control over their production, as in the case of Samsung, could be a competitive advantage.