New Delhi, Sep 1 : The average selling price in the global premium smartphones ($400 and over) increased by 8 percent (year-on-year) to the record amount of $780 in the quarter ending June this year, a new study revealed on Thursday.Apple took 57 percent of the market for premium smartphones and Vivo beat OPPO and became the third-largest premium brand of smartphones for the very first time.
This was fueled by the 94 % (YoY) rise in sales in the $1,000 and over price range.
When it comes to the number of sales the premium market has continued to outperform the overall smartphone market, for the 9th consecutive quarter according to Counterpoint Research.
This alone led more than one-fourth of the sales of premium smartphones and more than 5 percent of the global smartphone revenue in the second quarter of 2022.
“As 5G becomes more common, users are upgrading their smartphones.This is particularly important because the huge number of high-end iPhone users upgrade to 5G.Apple’s sales increased by 114 percent YoY, and it accounted for more than 78 percent of the $800 and higher price range,” stated the senior analyst Varun Mishra.
Consumers whose finances weren’t affected by the epidemic are using the additional disposable income resulting from the restrictions on travel to purchase higher-end devices, such as smartphones.
As lower price segments were more affected by inflationary pressures The premium market’s share to the smartphone market grew to 60 percent in Q2 from 58 percent in Q1 of this year.
Samsung’s sales increased by 2 percent year-on-year and its share also grew due to the S22 Ultra continued to be the most popular Android phone in the premium market for the second straight quarter.
“The second quarter of this year will be a significant time for launches, such as the new Fold series from Samsung and the brand new iPhone series by Apple that are likely to boost expansion in the segment of premium,” said Research Director Tarun Pathak.
Chinese OEMs may also begin to introduce their devices that fold to global market which will expand the market’s premium offerings, he added.
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