If you're looking to purchase a phone that's priced above $1,000, the options available in the market are quite limited. Apple and Samsung are the two major players in this segment, with the former being the dominant force.
Apple dominated three-quarters of the premium segment sales, as per a Counterpoint Research report, while Samsung's shipments saw a decline compared to the previous year and only managed to capture 16%.
According to the Counterpoint Research report, the demand for premium segment devices is primarily fueled by people upgrading from their previous devices. The report states that this trend is visible not only in mature markets such as North America but also in emerging economies, where consumers on their third or fourth device are entering the premium market.
As per the report, Apple experienced a year-on-year sales growth of 6% in the premium market, although the growth would have been higher had there been no disruption in the supply of the iPhone 14 Pro and iPhone 14 Pro Max. Overall, Apple dominated the premium smartphone market with a market share of 75%. Meanwhile, Samsung's sales declined by 5%, and the report by Counterpoint Research suggests that Samsung missed out on the Chinese market due to its inadequate presence in the region.
While Samsung's overall sales declined, the growth of foldable smartphones has been a positive development for the company, as per the report. On the other hand, Google has entered the premium smartphone market with its Pixel 6 Pro and Pixel 7 Pro devices after a considerable gap. However, most Chinese brands saw a decline in their market share as their sales primarily come from China, where difficult operating conditions impacted their flagship sales.
