iPhone continued to lead the global premium smartphone market in 2023

iPhone continued to lead the global premium smartphone market in 2023،

The global premium smartphone market, which includes phones costing $600 and above, was dominated by Apple last year. According to Search for counterpoint, Apple had a 71% share of the global premium smartphone market last year. Although Apple continued to dominate the premium market in 2023, it lost market share compared to 2022, when it had 75% of the global premium market.

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Huawei's surprise release of the 5G Mate 60 series helped the Chinese manufacturer finish third in the high-end smartphone market last year with a 5% market share. This represents an increase of 67% from the 3% share of the high-end market it held in 2022. With the flagship P70 series expected early this year, Huawei could continue to generate sales from Chinese consumers celebrating the fact that the company has succeeded despite US sanctions.

However, the truth is that Huawei will need to find a way to produce cutting-edge chips using a sub-7nm process node if it wants to stay relevant in the high-end market. Xiaomi finished fourth with a 2% share of the global premium smartphone market in 2023, while Oppo finished fifth with a 1% share.

Global Premium Smartphone Market Share in 2023 vs. 2022 – iPhone Continued to Dominate the Global Premium Smartphone Market in 2023

Global share of high-end smartphone market in 2023 compared to 2022

Overall global smartphone shipments are expected to decline 5% by 2023, reaching the lowest total in nearly a decade. High-end phone shipments are expected to account for 25% of last year's global unit sales and 60% of revenue. The ultra-premium segment, made up of phones costing more than $1,000, accounted for a third of all high-end phone sales last year.

Sales of high-end phones have seen strong growth over the years. In 2016, these phones accounted for 6% of total global sales and are expected to reach 24% in 2023. Varun Mishra, principal analyst at Counterpoint, said: “There has been a shift in consumer buying habits in the handset market. smartphones. Given the importance of a smartphone, consumers are willing to spend more to get a high-quality device that they can use for longer. »

The share of premium smartphones in overall sales has increased sharply over the years – the iPhone remained at the top of the global premium smartphone market in 2023

The share of high-end smartphones in overall sales has increased significantly over the years

However, not all sales of high-end smartphones are made because higher-quality devices last longer. Some people buy high-end phones to be seen with a status symbol brand. Mishra of Counterpoint says, “Owning the latest and greatest flagships has also become a status symbol for many consumers, especially in emerging markets where they are moving straight from the mid- to high-end price bracket. range. Additionally, these devices are becoming more and more affordable. due to promotional seasons and financing options.