Apple continued to dominate the high-end smartphone market, expanding its share to 75%
The slowing global economic growth led to a decline in overall smartphone shipments in 2022, but the high-end market is a different story, continuing to thrive. According to statistics, the sales of high-end smartphones even increased by 1% in adverse market conditions, making the price segment account for over half of the total global smartphone market revenue for the first time at 55%. All of this is largely due to Apple, which dominates the high-end smartphone market, occupying the vast majority of the market for smartphones priced above $600.
Source: Counterpoint Research Handset Model Sales
According to Counterpoint Research, Apple held 71% of the high-end smartphone market in 2021, with its share growing to 75% in 2022, while Samsung accounted for only 16%. Despite the impact of the COVID-19 pandemic on the supply chain in the fourth quarter of 2022, Apple’s sales of high-end smartphones increased by 6% last year, and shipments of the iPhone 14 Pro and iPhone 14 Pro Max are expected to be even higher.
The high-end smartphone market is critical to Apple, with long-term software and after-sales customer support, as well as integration with other Apple hardware brands, being some of the reasons consumers still pay thousands of dollars each year for iPhones. This revenue also supports Apple’s continued development of new technologies and the creation of better products.
This year, Apple will launch the iPhone 15 Pro and iPhone 15 Pro Max, which will be the first to feature the 3nm manufacturing process of the A17 Bionic chip. There are rumors that the devices will also have titanium alloy bodies, increased memory, and even periscope zoom lenses, while also having the thinnest bezels on a smartphone. With all of these added features, it is possible that the products will have even higher prices. If Apple continues its success this year, it may be somewhat surprising in the midst of the generally bleak global economy.
