Written by Nick Wood
Preliminary data from Counterpoint Research predicts that global sales in the premium segment – which it defines as devices that fetch a wholesale price of more than $600 – will achieve year-on-year growth of 6% for 2023, a new record.
This contrasts with the projected decline in the overall smartphone market, according to the analyst firm, which says that high-end handsets are expected to account for almost a quarter of overall smartphone shipments and 60% of revenues once all the full-year numbers are in.
Within this particular slice of the market, the ultra-premium segment is driving growth. Counterpoint said devices that cost $1,000 and above are expected to account for more than a third of premium handset sales in 2023.
"There has been a shift in consumer buying patterns in the smartphone market," said senior analyst Varun Mishra. "Considering the importance a smartphone holds, consumers are willing to spend more to get a high-quality device that they can use for a longer period."
