Although total global smartphone sales in 2022 fell 12% year-on-year due to macroeconomic difficulties, global sales in the premium class (from $600), in contrast, grew by 1%, which allowed this price segment to provide 55% of the total income of the world. smartphone market. The premium segment, which has consistently outperformed the overall smartphone market, now captures more than one-fifth of global sales. iOS devices account for three-quarters of all smartphone sales in the premium market.
Despite tough market conditions in 2022, relatively affluent consumers have proven to be less receptive to macroeconomic challenges. In addition, as smartphones become more important in life, many are willing to spend more on devices and use them longer. Due to a combination of reasons, the price segment from $1,000 has also become the fastest growing (38% per year).
Top-end Apple iPhone sales rose 6% year-on-year, increasing their share to three-quarters of total premium segment sales. Apple’s share could be even larger if it weren’t for disruptions in the supply of the iPhone 14 Pro and Pro Max in 2022. Apple has also benefited from Huawei’s slowdown in China.
Apple is followed by Samsung, whose smartphone sales are down 5% in 2022. Samsung missed opportunities in the Chinese market due to a weak presence in the region. The launch of the Galaxy S22 series in 2022 also happened much later than the launch of the S21 in 2021. However, the rise in popularity of foldable smartphones has played in favor of Samsung.
Google has become one of the top OEMs, with sales boosted by the Pixel 6 Pro and Pixel 7 Pro. Sales of most Chinese manufacturers have declined as they carry a significant portion of flagship sales in the domestic market, where operating conditions have been challenging in 2022.
The growth in Apple’s share is also associated with the binding of iOS to a variety of devices and services. If an iPhone owner has an Apple Watch or Mac, they are more likely to get a new iPhone. Because of the attitude to the brand, Apple’s sales are growing more actively in emerging economies. However, Android may see a new wave of growth in 2023 as most smartphone makers launch foldable devices this season.
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Source: Counterpoint
