Posted 1/4/2024, 5:22:12 AM
Apple Leads Premium Smartphone Market with 71% Share, Though Facing Growing Competition from Huawei and Others
- Apple dominated the global premium smartphone market in 2023 with a 71% market share, down from 75% in 2022
- Huawei surpassed expectations by capturing 5% of the premium market thanks to its 5G Mate 60 series
- Xiaomi and Oppo rounded out the top 5 premium smartphone makers with 2% and 1% market shares respectively
- Premium phones accounted for 25% of all smartphone shipments in 2023 and 60% of revenue
- Consumers increasingly view premium phones as status symbols and are willing to spend more to get high-quality, long-lasting devices