Counterpoint Analysis posted its overview of the premium smartphone market in 2023. Based on its analysis, primarily based on preliminary This autumn 2023 outcomes, gross sales of smartphones that price greater than $600 have elevated by 6% on a yearly foundation.
That is in distinction to the projected decline of the general smartphone market. The analysts stated 24% of all smartphones now fall within the premium class, and the phase is increasing in rising markets.
Based on Senior Analyst Varun Mishra, customers are actually prepared to pay extra for a high-quality system that can be utilized for an extended interval.
Apple remained the market’s undisputed chief within the phase, with 4x extra gross sales than the second-placed Samsung. The Korean producer managed to slim the hole ever so barely, pushed by profitable gross sales of its Galaxy S23 and foldable gadgets. Huawei additionally did an amazing job with the Mate 60 lineup in China.
The premium market progress was pushed by gross sales in China, Western Europe, India, and the MEA areas. Counterpoint Analysis revealed that China, India, and Latin America are prone to see a brand new file for premium market gross sales, with India being the fastest-growing market globally.
This progress is primarily pushed by the ultra-premium phase, which is gadgets that price $1,000 or extra. Expectations for the close to future are for this pattern to proceed and for premium gadgets to outgrow the general smartphone market.
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