Premium Smartphones Shine as Overall Market Declines: Apple Leads Pack While India Sees Fastest Growth
• Premium smartphone market grew 6% in 2023 based on preliminary data, even as overall smartphone market declined • 24% of smartphones now considered premium models ($600+), segment expanding in emerging markets • Apple remained top player in premium segment with 4x more sales than second-placed Samsung • Premium market growth driven by China, Western Europe, India, and Middle East & Africa regions • India was fastest-growing premium smartphone market globally, ultra-premium models (>$1,000) driving growth