Three out of four premium smartphones sold in 2022 were an iPhone
- The premium smartphone segment recorded a 1% growth in 2022.
- iPhones accounted for 75% of premium smartphones sold in 2022.
- Samsung reported a decline in its market share in the premium segment due to its weak presence in China.
AdvertisementThe premium smartphone segment remained positive in 2022, recording a 1% growth in sales, according to Counterpoint Research. While this number may seem low, it is significant as the overall smartphone market reported a decline of 12% during the same period.
The premium smartphone segment comprises smartphones priced above-$600 (approx. ₹49,600). The growth of the premium smartphone segment has allowed it to capture 21% of the total smartphone market share for the first time, up from 19% in 2021.
The above-$1,000 segment also emerged as the fastest-growing price segment in 2022, registering an increase of 38% year-on-year. Apple dominated this segment, accounting for 75% of the sales during the year.
Premium smartphones account for 55% of the revenue share
Despite accounting for only 21% of the total sales, premium smartphones, due to their higher value, accounted for 55% of the total revenue contribution. For the first time, the contribution of premium smartphones has crossed the 50% mark.
According to a report by Counterpoint Research, one of the reasons for the growth of the premium smartphones segment, despite the decline in the overall smartphone segment, is that affluent customers were more immune to the macroeconomic difficulties.
Another reason, according to the report, is that people are willing to spend more on smartphones and retain them for a longer period as phones have become central to the lives of people.
Apple dominates the premium smartphone segment
Cupertino giant Apple continues to dominate the premium smartphone segment, reporting a 6% year-on-year growth from 2021. The smartphone maker recorded a 75% market share in the premium smartphone segment, meaning that three out of every four premium smartphones sold in 2022 was an
Interestingly, the report claims that Apple could have grown more in 2022 had it not faced supply disruption during the peak holiday season of 2022. During the Black Friday sale in 2022, the supply of iPhones was affected due to Covid-19 lockdowns in China. Devices like the iPhone 14 Pro and iPhone 14 Pro Max had a wait time of up to 40 days.
Samsung’s market share declines
Samsung reported a 5% year-on-year decline in the premium smartphones segment, with its market share declining from 17% to 16%. The decline was reportedly due to the company’s weak presence in China.
Xiaomi and Huawei amongst the top losers
Chinese smartphone makers Xiaomi and Huawei have emerged as the top losers in the premium smartphones segment. According to Counterpoint, the main reason for their decline was “difficult operating conditions” in their home market in China, which is their biggest market for premium devices.
AdvertisementHuawei’s market share recorded a 44% year-on-year decline, with its market share declining to 3% from 5%.
Xiaomi’s market share in the premium smartphones segment declined to 1% from 2% in 2021. The company recorded a 40% year-on-year decline.
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