Not the iPhone alone. Samsung and Huawei have strengthened their positions in the premium smartphone market

Not iPhone alone. Samsung and Huawei have strengthened their positions in the premium smartphone market

January 4, 00:30 Share:

iPhones still lead premium smartphone sales (Photo: Unsplash)

Last year, Apple lost some iPhone sales, while Samsung and Huawei significantly strengthened their positions in the premium smartphone market. Despite this, the Cupertino company remains the largest player in the market.

Almost a quarter of all global smartphone purchases in the first three quarters of last year were premium devices ( over $600), says Counterpoint Research's latest report. Apple's global share of the premium smartphone market fell from 75% to 71% last year.. Samsung strengthened its position ( share 17% versus 16% in 2022) and Huawei ( 5% vs. 3% in 2022). Xiaomi accounted for 2% of sales, Oppo — 1%; last year the share of both was 1%. Other manufacturers accounted for 4% of sales.

This is mainly due to Huawei's resurgence in China thanks to the Mate 60 series. Samsung also increased its share with the S23 and Foldable series,” the report said.

Analysts expect that by the end of 2023, sales of premium smartphones will show an increase of 6% compared to last year, when they accounted for 21% of sales, and will reach a new record. Back in 2016, the most expensive smartphones accounted for only 6% of the market.

“There has been a change in the smartphone market. … Given the importance of the smartphone, consumers are willing to spend more to get a high-quality device that they can use for longer. Owning the latest and greatest flagships has also become a status symbol for many consumers, especially in emerging markets where they are moving from mid-range to premium. Additionally, these devices are becoming increasingly affordable due to promotional seasons and financing opportunities,” said Varun Mishra, senior analyst at Counterpoint.

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