June 26, 2022
Apple Captured 62% of Premium Smartphone Market in 1Q22 [Chart]

Apple Captured 62% of Premium Smartphone Market in 1Q22 [Chart]

Posted June 23, 2022 at 4:09pm by iClarified · 1555 views
Apple captured 62% of the global premium smartphone market in the first quarter of 2022, according to a new report from Counterpoint Research. The premium market declined 8% year over year but still beat the overall smartphone market which declined 10%.

Notably, Apple's share of premium smartphone sales hasn't been this high since Q1 2017. The iPhone 13 has been best selling smartphone model globally since October 2021 and other models in the series have seen impressive sales as well.

Samsung's share in the premium segment declined, mainly due to a delayed launch of the Galaxy S22. However, series is performing well overall, with the S22 Ultra being the best-selling Android smartphone in the premium segment. Foldables, led by Samsung, are growing as well. Sales volume increased 184% YoY in the premium segment, capturing 3% of total premium sales.

Apple Captured 62% of Premium Smartphone Market in 1Q22 [Chart]

Counterpoint notes that the premium segment is growing in importance...

Although sales volume in the premium segment declined YoY it grew in importance, with almost three in 10 smartphones sold coming from the premium segment; its highest-ever first quarter share. And 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, reaching the highest first-quarter value contribution as well. This also shows the strategic importance of having a presence in the premium segment. This revenue resilience was driven by a 164% YoY sales volume growth in the ultra-premium (US$>1000) price band, which became the largest contributor to the premium market, both in terms of sales volume as well as value. It was the fastest-growing price segment globally as well as in China, Western Europe, and North America.

As global inflation rises, Counterpoint sees manufacturers trying to gain share in the premium segment while entry-level and lower price segments are likely to be harder hit.

More details in the full report linked below...

Read More

Apple Captured 62% of Premium Smartphone Market in 1Q22 [Chart]

Apple Captured 62% of Premium Smartphone Market in 1Q22 [Chart]
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