On August 24, Patently Apple posted a statistics report on China's premium smartphone market for Q2 with Apple leading the way. Today we're reporting on Global premium smartphone shipments for Q2 where Apple once again led the market by a wide margin and out performed Samsung 3 to 1.
Apple captured 57% of premium smartphone market sales with Samsung in second place with 19% as presented in the Counterpoint chart below.
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Commenting on the growth of the $1,000 and above price segment, Senior Analyst Varun Mishra said: "As 5G is becoming more prevalent, consumers are upgrading their devices. This is especially significant, as the large installed base of premium iPhone users upgrades to 5G.
Apple’s sales grew 114% YoY, capturing over 78% of the Ultra Premium $1,000 and above price segment.
Consumers whose finances were not affected by the pandemic have been using the extra disposable income created due to restricted travel to buy more expensive devices, including smartphones. During the pandemic, users also realized the importance of smartphones and started seeing more value in upgrading their devices. Another interesting factor is that this trend in the ultra-premium market is ubiquitous across regions, despite inflationary pressures. This is because affluent consumers are not affected by the current economic headwinds. Hence, the low-to-mid-price segment has been hit hard by the recent macro headwinds while the high-price segment still looks solid, further boosting the ASPs.
Also, the increasing number of financing schemes and a growing ecosystem of trade-ins and EMIs are also helping consumers to upgrade their devices without paying the total price upfront.”
In the mid-premium segment ($600-$800) Apple continued to lead with a 57% share as the 4G iOS installed base continued to upgrade.
iPhone sales and promotions in the US remained strong through the quarter. There was no evidence of any macroeconomic impact on demand. Apple also continued to successfully onboard new users as switcher growth hit a fresh record during the quarter, largely driven by robust growth in emerging economies.
For stats on competing smartphones, review the full Counterpoint report.
With Apple capturing 78% of the Ultra Premium band in Q2 and Samsung capturing the most in the Android market with their Galaxy S22, their foldables are nowhere to be found. So it's quite hilarious that Samsung is trying to sway the market towards foldables instead of the upcoming iPhone 14 with a new feeble ad.