Premium smartphone market: Apple sets new record; these are the other companies in top 5

Apple continues to lead the global premium smartphone market. According to Counterpoint Research’s Market Pulse Service, Apple continued to lead the premium market, exceeding 60% share for the second consecutive quarter. This was driven by the iPhone 13 series. The iPhone 13 has been the best-selling smartphone globally each month since it launched in October 2021. This was also the highest first quarter share for Apple in the premium segment since the first quarter of 2017. The global premium smartphone market includes all devices priced above $400.
Overall, the global premium smartphone market sales volume declined 8% year-on-year during the quarter. However, it still performed better than the overall smartphone market, which declined by 10%, according to the report. This is the eighth consecutive quarter in which the premium smartphone market has outperformed the overall smartphone market growth.
Top 5 premium smartphone brands
Apple continues to lead the smartphone market with 62% market share. The company is followed by Samsung. The South Korean smartphone giant’s share declined in the segment. This, as per the report, is mainly because of a delayed launch of the Galaxy S22 series as compared to the S21 series launch in 2021. However, the S22 series is performing well overall. The Galaxy S22 Ultra was the best-selling Android smartphone in the premium segment in Q1 2022. Foldables phones too are slowly gaining traction, dominated by Samsung.
Apple and Samsung led the volume growth in the ultra-premium segment. The iPhone 13 Pro Max and the iPhone 13 Pro together captured over two-thirds of sales volume within the ultra-premium price segment. This was driven by strong volume growth in the US, China, and Western Europe. In China, the sales in the >US$1000 price segment grew 176% YoY in Q1 2022. The segment alone captured over one-fifth of China’s smartphone market value during the quarter. Huawei’s decline in the premium market continued, largely due to the restrictions imposed by the US. The premium market in China still holds potential, and will be driven by upgrades, especially by users from Huawei’s large installed base.
Oppo was the third largest brand in the premium segment. Here the Oppo sales also include OnePlus’. Oppo was followed by Xiaomi and Vivo respectively. The sales contribution of the China market within the premium segment for Xiaomi, Oppo, and Vivo has come down since the year 2021.
Premium smartphone market grows
The premium segment sales grew in importance year-on-year, with almost three in 10 smartphones sold coming from this segment — its highest-ever first quarter share. The sales value grew slightly (+0.5% YoY) due to an increase in the Average Selling Price (ASP). The premium segment alone accounted for almost two thirds of global smartphone value during the quarter. This was also the eighth consecutive quarter in which the premium market has outperformed overall smartphone market growth.