Apple’s iPhone 15 Professional Max
Whilst general gross sales of smartphones continued to say no globally, premium fashions just like the iPhone 15 Professional are predicted to have hit a brand new document with 6% progress yr over yr.
Globally, gross sales of smartphones have been falling for some years, though the iPhone 15 have bucked the development — and Apple’s market share has continued to develop. However Counterpoint Analysis’s figures for 2023 — together with preliminary estimates for This autumn — present a unique image for the so-called premium market.
“The worldwide premium smartphone (wholesale value $600) market’s gross sales are prone to develop 6% YoY in 2023 to hit a brand new document,” says the analysis agency in an announcement. “The premium phase is prone to seize near one-fourth of the worldwide smartphone market gross sales and 60% of the revenues in 2023.”
Though reporting international progress, although, Counterpoint says that the brand new document being set is particularly in China, India, Latin America, and Center East and Africa. Of those, India is reportedly the fastest-growing premium market on the earth.
Describing iPhone as “the premium market’s undisputed chief,” Counterpoint additionally studies that Apple’s market share has declined within the final yr. Samsung has gained with its S23 and its foldable telephones, whereas Huawei has seen a “resurrection in China.”
Share of premium smartphone market 2022 and 2023 (supply; Counterpoint Analysis)
“There was a shift in shopper shopping for patterns within the smartphone market,” stated Counterpoint senior analyst Varun Mishra. “Contemplating the significance a smartphone holds, customers are keen to spend extra to get a high-quality machine that they will use for an extended interval.”
“Proudly owning the most recent and biggest flagships has additionally turn into a standing image for a lot of customers, particularly in rising markets the place they’re leaping straight from the mid-price band to the premium band,” continues Mishra. “Additional, these units are more and more turning into extra reasonably priced because of promotion seasons and financing choices.”
Regardless of this, Counterpoint additionally studies that “it’s the ultra-premium phase” that’s driving progress. Particularly, smartphones costing $1,000 or extra have “captured over one-third of the whole premium market gross sales in 2023.”
The 6% progress in premium smartphones contrasts with the earlier yr 2022, which noticed solely a 1% improve.
