Samsung Electronics ranked the world's 22nd company in terms of market capitalization, down seven notches from a year earlier.

According to the accounting company PricewaterhouseCoopers, the South Korean tech giant made the firm's list of the global top 100 companies.

The list was produced on the basis of Bloomberg's data on the companies' market capitalization at the end of March.

Samsung Electronics was the only South Korean company on the list, with the market value of 342 billion U.S. dollars as of March.

It marks a drop of 89 billion dollars or 21 percent from 431 billion dollars a year ago, with the rankings slipping from 15th to 22nd.