14 DAY TRIAL // New data by Counterpoint reveals that Apple managed to capture no more, no less than 57 percent of the premium smartphone market (this category includes devices priced at $400 and above).
In other words, nearly 6 in 10 smartphones sold in the premium market were iPhones, with Counterpoint claiming the Cupertino-based tech giant hasn’t recorded any macroeconomic impact on its sales.
“Apple continued to lead the premium segment with a 57% share as the 4G iOS installed base continued to upgrade. Sales and promotions in the US remained strong through the quarter. There was no evidence of any macroeconomic impact on demand. Apple also continued to successfully onboard new users as switcher growth hit a fresh record during the quarter, largely driven by robust growth in emerging economies,” Counterpoint says.
Samsung is second in the charts
Samsung is the runner-up in the charts with 19 percent, followed by vivo, Oppo, and Xiaomi with 4 percent.
Counterpoint explains that Samsung’s sales increased by 2 percent, and its performance in the premium market is mostly the result of the launch of the Galaxy S22 Ultra.
The market research firm expects the market to grow in the coming months as a result of the debut of new models like the Galaxy Fold 4 and the iPhone 14.
“The second half of the year will also be marked by key launches like the new Fold series from Samsung and the new iPhone series from Apple, which are likely to drive growth in the premium segment. Chinese OEMs will also start to bring their foldable devices to the global markets, further expanding the premium market portfolio,” Counterpoint Research Director Tarun Pathak says.
“Higher BoM and operational costs backed by the raw material prices remaining high, growing inflation, and volatility in foreign exchange rates have been putting further pressure on OEMs to maintain profitability, which will be reflected in the growing ASPs. All these factors will keep on driving the ASPs high in 2022. We believe the premiumization trend has already started across several markets, and it is here to say.”