Counterpoint Market Research Company has released a report on the overview of the premium smartphone market (priced above $600 or approximately 20,000 baht) in 2023. In the previous year, the overall smartphone market has contracted due to various factors. However, the premium segment of smartphones continues to grow, with an estimated 6% growth from the previous year. This growth has led to record-breaking shipments and accounted for almost 1 in 4 smartphones sold. In terms of sales value, the premium segment contributes to 60% of the total sales.
Analysts from Counterpoint have commented that these figures reflect a changing consumer behavior, placing more importance on smartphones with higher usage and opting to spend more for high-quality devices that offer longer durability. Additionally, many individuals desire to constantly upgrade their smartphones to the latest models. In response to this demand, promotions and installment programs for premium smartphones are already being offered in the market.
In this premium smartphone market, Apple holds the top position with a market share of 71%, although it has declined from the previous year’s 75%. Samsung follows in second place with a market share of 17%, followed by Huawei (5%), Xiaomi (2%), and OPPO (1%).
TLDR: Counterpoint’s market research report highlights the growth of the premium smartphone market in 2023, which has surpassed the contraction of the overall smartphone market. Consumers are increasingly prioritizing high-quality and long-lasting smartphones, leading to record-breaking shipments. Apple remains the dominant player, although its market share has slightly decreased. Samsung, Huawei, Xiaomi, and OPPO also hold notable positions in the premium smartphone market.
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