SEOUL, South Korea: Korean tech giant Samsung Electronics fell two places in Forbes' rankings of the World's Largest Tech Companies in 2022.

The company ranked in fourth place, down from second place in 2021.

According to BusinessKorea, three American companies, including Apple, Google parent company Alphabet and Microsoft, occupied the first three places on the list.

Although Samsung was estimated to have a market value of $367 billion with $244.2 billion in sales, the market values for the top-three leading companies on the list are in the trillions of dollars.

According to Forbes, Samsung Electronics' market cap has decreased by a considerable $143.2 billion.

In 2021, the company recorded $510.5 billion in market value, while sales increased by some $44 billion last year.