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The Latest Research on Premium Phone Sales: Growth in Competition, Leader Losing Market Share

Summary

According to a recent study by Counterpoint Research released on January 2nd, smartphone manufacturers have always competed to sell as many devices as possible in different market segments, with the premium phone market being the most prestigious. Traditionally, Apple has […]

Najnovija istraživanja o prodaji premijum telefona: Opozicija raste, lider gubi na tržištu

According to a recent study by Counterpoint Research released on January 2nd, smartphone manufacturers have always competed to sell as many devices as possible in different market segments, with the premium phone market being the most prestigious. Traditionally, Apple has been the absolute ruler of this segment, while other brands have tried to overthrow its dominance.

But has anything changed in the past year? Let’s take a look at the results of the latest research conducted by Counterpoint Research, which focuses on premium phone sales in 2023.

Record-breaking sales of premium phones

According to Counterpoint Research, a premium phone is a device that costs $600 or more when imported in wholesale, and the price consumers will pay depends solely on the retailers. The research shows that the market share of premium phones reached a staggering 24% in 2023, an absolute record. It has also been noted that one-third of all premium devices sold cost more than $1,000. These figures represent significant shifts when compared to 6% in 2016, 8% in 2017, and 13% in 2018. Although premium phones make up only a quarter of the overall market, they contribute an astonishing 60% of the total revenue.

Changes in the market

Apple still remains dominant in 2023 with a market share of 71%. However, compared to 2022 when it had a 75% market share, this Cupertino giant has allowed other manufacturers to reduce the gap. Samsung, the leader in premium Android phones, has improved its results in 2023, increasing its market share from 16% to 17%. Xiaomi has also improved, going from 1% to 2% market share, while Oppo has remained at 1%. All other brands combined hold 4% of the total sales.

The biggest surprise in 2023 is definitely Huawei. The Chinese manufacturer has achieved impressive results, jumping from 3% to a 5% market share thanks to its Mate 60 series powered by Kirin chipset.

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