Global premium smartphone market grew in 2023; Apple remains leader

2024-01-02 14:07:28

New data from the research firm Counterpoint Research realize that the global premium smartphone market (from US$600) grew 6% em 2023 compared to the previous year, despite forecasts of decline for the period.

Growing in recent years, this sector has captured almost ¼ of all sales of smartphones in 2023, it is worth noting. Furthermore, 60% of all profit obtained from the sale of smartphones in the last year came precisely from the flagships.

According to the data, the Apple remains the isolated leader in this category, although it has seen its market share fall to 71% (compared to 75% in 2022). According to analysts, this decline has to do with the good performance of the Chinese company Huawei in his home country, closing the period with a market share of 5% (compared to 3% a year earlier).

A sul-Korean Samsung appears in second place, right between Apple and the Chinese giant, with a market share of 17% (16% in 2022). The company’s good performance, according to Counterpoint, was due not only to the success of the Galaxy S23 line, but also to its foldable smartphones — a category that has emerged as a differentiator in the premium market.

A Xiaomi comes right behind the three with a share of 2% (compared to 1% in 2022), followed by Oppowhich maintained the same 1% 2022. The rest of the market, in turn, continued with 4% of the premium smartphone sector.

According to Counterpoint senior analyst, Varun Mishrathe greater quality and durability of premium smartphones, as well as their position as a symbol of social status, can be cited as one of the reasons that made people pay a little more when buying a phone in 2023.

China, Western Europe, India and parts of Africa and the Middle East are among the top regions for the premium handset market, with the top three tipped to see record sales alongside Latin America.

Also according to the research firm, ⅓ of all sales correspond to devices ultra-premium, that is, they cost from US$1,000 — which includes devices from the iPhone 15 line, by the way. The expectation is that the global premium smartphone market will continue to grow in the future.


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