Counterpoint Research has published a new report on China’s smartphone market. The report states that the market share of the premium segment ($400 and above) has risen from 31% in Q2 2021 to 33% in Q2 2022. However, the unit sales of premium handsets declined by 10%. Anyway, this segment performed better than the entire market, whose sales dropped by 14%.
The key highlight of the report is that Vivo has now become the second-largest premium smartphone brand in China by overtaking Huawei. With a 13% market share, the company is only behind Apple, which enjoys a whopping 46% market share.
Another highlight is that Honor has jumped from sixth place to fourth with a 9% market share. It is now ahead of Xiaomi and Oppo. Both these brands have an 8% market share, respectively.
Huawei lost the most market share in a year. Though it is in the third position, its share has reduced to 11% from 19%. Also, Xiaomi lost 1% but everyone else gained.
Unsurprisingly, Apple also led the $1,000 and above price segment by registering a 147% YoY growth. Interestingly, even Samsung grew by 133% YoY in this segment, thanks to its foldables.
But it is Vivo who surprised everyone with its Vivo X80 series smartphones. The brand’s overall premium market share increased by 504% YoY. Honor was its strongest competitor in Q2 2022. It may continue to do so with the decline of Huawei.
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