Apple‘s dominance in the high-end smartphone market in 2023 was clear, but Huawei‘s resurgence, particularly with its Mate 60 series, marked an interesting shift. Despite facing sanctions, Huawei managed to increase its market share in the premium segment, a testament to the appeal and quality of its 5G handsets.
Samsung is second with a 17% share, while Huawei is still catching up steadily
The premium smartphone market, defined by devices priced over $600, continued to be a bright spot in an otherwise sluggish global market. Apple held a commanding 71% share, a figure that speaks volumes about its brand loyalty and product appeal. Samsung, another major player, retained its second position with a 17% share. However, Huawei’s rise to a 5% share, up from 3%, indicates a changing landscape in consumer preferences, especially in the 5G domain.
Other notable brands like Xiaomi and Oppo also made their presence felt, though with smaller market shares. This diversity in brand choices highlights a growing trend in the premium segment – consumers are increasingly looking for high-quality, long-lasting devices and are willing to invest more in their smartphones.
This trend is particularly evident in markets like China, Western Europe, India, and the Middle East-and-Africa regions. In fact, India’s rapidly expanding market for premium smartphones has caught the attention of major players like Apple, which recently opened its first retail store there.
The shift towards more expensive smartphones is not just about functionality; it’s become a status symbol, especially in emerging markets. Promotions and financing options are making these high-end devices more accessible, leading to a significant jump from mid-priced to premium handsets.
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(Via)
