By 2022, the global smartphone market is expected to generate more than half of its revenue from the premium smartphone market. There is no doubt that Apple is the top player among all the big players. There was a 12% drop in the sales of smartphones in the global market as a whole between 2021 and 2022, which can be attributed to macroeconomic issues. The premium end of the spectrum, however, still performed well, despite the downturn in the economy.

It has been estimated that the global premium smartphone market, which concerns devices with a wholesale price of at least $600, will grow by a modest 1% YoY in 2022, according to a report by Counterpoint Research. In addition to this, there has also been a decline in the overall market. For the first time ever, premium smartphones accounted for 55% of total annual smartphone market revenue for the first time in history.

READ MORE: World Water Shortage Is Now Imminent

A number of reasons are also cited by analysts as to why the market is growing. There is no doubt that smartphones are becoming more and more central to people’s lives, which means that they are more willing to spend heavily, and they are more likely to retain them for a longer period of time. As a result of this cultural change, the $1,000 and above price segment of the industry is forecasted to grow at the fastest rate in 2022, with 38% year-on-year growth.

All in all, Apple’s grip over the premium market continues to hold strong for another year, as its market share in 2022 is expected to increase from 71% in 2021 to 75% in 2022. As a result of Apple’s 6% year-over-year growth in sales, the company was able to make this achievement. Despite having a 17% share of the market, Samsung declined from a share of 16% to a share of 16% as a result of the segment falling by 5% year-over-year.



Please enter your comment!
Please enter your name here