Tough global economic outlook, but more and more premium cell phones are being sold

Apple ‘s iPhones dominate cell phone sales above $600.


Despite a not so favorable global economic outlook, premium cell phones are gaining more and more space.

A Counterpoint Research report indicates that for the first time cellphones costing more than $600, which it classifies as premium , accounted for the majority of sales revenue in 2022.

Premium cell phones represented 55% of sales revenue globally, the consultancy indicates.

“Despite the tough market conditions in 2022, affluent consumers were more immune to macroeconomic difficulties than customers at lower levels. Consequently, sales in the premium market grew, while those in the entry-level and mid-range fell,” explains the Counterpoint Research report.

That has also meant an increase in the number of premium devices sold, with this category occupying 21% of unit sales. In 2016, it barely represented 7%.

Apple sweeping the premium market

When we look at market share, Apple dominates the premium segment with 75%, which has been growing year-on-year, according to Counterpoint Research data.

Samsung is the other player with a significant share, with 16%. Huawei completes the podium with 3%.

Xiaomi , Honor and Google are the brands that are saved from the “others”.

While it’s clear that Apple has much of the premium segment , Counterpoint Research believes that the rise of more and more Android foldable alternatives could buck the trend a bit.