interprettion of "falling market share"
Would you be kind enough to explain to me the proper way to interpret the expression in bold from the following sentence?
Despite its falling market share (from 13 percent in 1982 to 5 percent in 1987), Sony refused to introduce a VHS line until the late 1980s.
falling market share= share with falling prices or
falling market share = falling specific weight of goods in the market turnover
Thank you for your efforts.
Re: interprettion of "falling market share"
It refers to what share of the market Sony had.
Imagine the entire market for an industry is a pie. The companies that sell products in that industry each have a piece of the pie. One company may have a very large slide - half the pie, or a 50% share of the market.
So in 1982, Sony's slice was 13% of the pie. They sold 13% of the items sold in that industry.
Five years later, their slice was smaller. Other companies had taken over their share.