Premium Smartphone Category in New Research Defined as More Than $400
New data from Counterpoint Research suggests that the premium smartphone market is outpacing the entire market, as it grew 24 percent year-over-year in 2021 to reach the highest level yet. The premium smartphone market also outran the overall smartphone market by seven percent during the same period, and it also contributed to 27 percent of the entire shipments run for the period. As for why the premium handset market is doing well, it is not just about wanting the best of the best. Demand for 5G-ready smartphones has picked up, with Apple doing significantly well when it launched the iPhone 12 and iPhone 13 families. However, it was only in 2022 did the company launch a more affordable option called the iPhone SE with 5G capabilities. Apple’s closest rival in the smartphone business, Samsung, secured second place in every market except China and India. Google’s Pixel series is now the third-biggest brand in the U.S., but it will take a while before the advertising giant becomes a force to be reckoned with. For the time being, Apple and Samsung will continue to generate the bulk of revenue from the premium smartphone market, but when we talk about a majority market share, Apple does not appear to have any competition in this space. News Source: Counterpoint Research
