Apple’s iPhone captured 62% of the premium smartphone market for devices with a price tag of over $400 in the first quarter of 2022, according to data gathered by Counterpoint Research. Specifically, the iPhone 13 lineup continues to experience strong demand.
iPhone 13 models continue to see impressive sales
According to Counterpoint Research’s Market Pulse Service, though the global premium market sales volume declined 8% year-over-year during the first quarter of 2022, it performed better than the overall smartphone market, which saw a decline of 10%.
The Cupertino tech giant continued to lead the premium marker during the quarter, exceeding a market share of 60% for the second consecutive time. Counterpoint says this was driven by sales for the iPhone 13 models. The standard model in the lineup has been the best-selling smartphone globally each month since October last year. This was also the highest first-quarter share for the tech giant in the premium segment since Q1 2017.
Although sales volume in the premium market declined, Counterpoint notes that almost three in ten smartphones sold during the quarter were premium devices. “The premium segment alone accounted for almost two-thirds of global smartphone value during the quarter” the research notes.
Apple’s iPhone 13, 13 Pro, 13 Pro Max, and iPhone 12 captured the top four spots in the list. The iPhone 13 Pro Max and the iPhone 13 Pro captured over two-thirds of sales volume within the ultra-premium price segment. This is attributed to strong demand in the United States, China, and Western Europe.
The report notes that going forward, more smartphone manufacturers will try to gain a bigger share in the premium segment.
Going forward, we will continue to see smartphone manufacturers trying to gain share in the premium segment. With global inflation rising, the entry-level and lower price band segments are likely to be harder hit. Only through a rise in sales in higher price bands, will manufacturers be able to offset some of the resulting revenue declines. While developed markets dominate the premium market sales, the segment is also becoming important in emerging markets like India and LATAM, as consumers continue to upgrade.
In another report recently published by Counterpoint, Apple led the global best-selling smartphone with its iPhone 13 and other models, followed by Samsung. The top 10 models captured 21% of the total smartphone market, with Apple capturing 12.3% of the market.