Premium mobile phone market grew in 2023, according to report

The premium mobile phone market has grown in 2023 and continues to growIn fact, it goes against the flow of the mobile phone industry as a whole. This is one of the conclusions of a new report launched by the consultancy firm. Counterpoint ResearchBased on estimates in the last quarter of last year.

According to the survey, sales of premium devices ($600 or more at United States prices) 6% growth in 2023 compared to the previous year. If the number is confirmed, this would represent a record for the more expensive category of mobile phones.

In total, the segment is responsible for: a quarter of smartphone sales In addition to transporting worldwide 60% of revenue earned by producers per year. The volume of units sold increased threefold compared to 2016.

Premium mobile phones that charge the industry

The performance is even more impressive when we consider that the global mobile phone market is in decline through 2023, according to Counterpoint Research.

Global data shows that Consumers are updating their smartphones for a longer period of time – and when it comes time to replace it, the trend is towards a more expensive model.

In terms of companies Apple continues to be the isolated leader in the premium category 71% of sales. This isn’t a surprise, as the company has always invested almost all of its chips in its more expensive iPhone models.

It is followed by Samsung with 17 percent, Huawei with 5 percent, Xiaomi with 2 percent and Oppo with 1 percent. The total of other manufacturers reaches 4% of the market.

The study also shows that China, Western Europe, India, the Middle East and Africa are the regions that contributed the most to the increase in units sold. Latin America also appears as a region with the potential to break sales records in this category.

Sales were high even for models “ultra premium”Smartphones priced at $1,000 or more. Generating higher revenue from selling fewer units may result in more manufacturers focusing on or showing greater interest in this category throughout the year.