May 24, 2024
Apple Captured 75% of the Premium Smartphone Market in 2022 [Report]

Apple Captured 75% of the Premium Smartphone Market in 2022 [Report]

Posted March 20, 2023 at 6:45pm by iClarified
xApple captured 75% of the premium smartphone market last year, up from 71% in 2021, according to Counterpoint Research. The premium segment grew 1% YoY, contributing to 55% of total global smartphone market revenue for the first time ever. Overall, global smartphone sales were down 12% YoY due to macroeconomic difficulties.

Among OEMs, sales for Apple grew 6% YoY in the premium market, expanding its share to capture three-fourths of the total sales in the segment. Apple could have grown more, if not for the iPhone 14 Pro and Pro Max supply disruption during the peak holiday season in 2022. Apple also gained from Huawei's decline in China.

Samsung came in second place with 16% of the premium segment, down 5%. Huawei placed third with 3%, down 44% and Xiaomi placed fourth with 1%, down 40%.

Apple Captured 75% of the Premium Smartphone Market in 2022 [Report]

As Apple has been growing, Google has been losing Android market share. Counterpoint believes this is the reason behind Google's smartphone push.

For Apple, the growth in mature markets came from the upgrades in its installed base. The stickiness of the iOS ecosystem with multiple devices and services is high. If an iPhone user also owns an Apple Watch or Mac, the individual's next smartphone upgrade will likely be another iPhone. Also, because of Apple's aspirational brand value and step-by-step expansion, its sales have been growing in emerging economies as well. Android's loss of share to iOS in the premium segment is also one of the reasons for Google's smartphone push.

More details in the full report linked below...

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Apple Captured 75% of the Premium Smartphone Market in 2022 [Report]
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