For smartphones costing $400 and above, Apple practically had no competition from the remaining vendors as it captured a 62 percent market share in Q1 2022. In fact, the company’s sales performance has been better compared to the same quarter a year ago, when it had a 57 percent market share for the same price bracket.
iPhone 13 Pro, iPhone 13 Pro Max Captured 66 Percent of Sales in the Ultra-Premium Market, Where Pricing Exceeds $1,000
New data published by Counterpoint Research states that Apple reached its highest first quarter share in the premium phone segment since Q1 2017, which is impressive, given that inflation has diminished the purchasing power of consumers and prices of smartphones have gone up since five years. The research says that this is the eighth consecutive quarter in which the premium smartphone market has outperformed the overall smartphone market, suggesting that customers want to spend a little extra to get a decent handset as their daily driver.
The iPhone 13 remained the global best seller since October 2021, leading with a 23 percent market share. Despite carrying a price of $1,000 and above, the iPhone 13 Pro Max and iPhone 13 Pro had a 13 and 9 percent market share in the same category, respectively, with both handsets capturing two-thirds of the $1,000+ price segment. Apple usually brings high-end features to the more expensive iPhones, compelling customers to spend extra money to take advantage of these additions.
Apple is expected to repeat the same strategy this year, with the iPhone 14 Pro and iPhone 14 Pro Max getting a design change, ditching the notch, and new build materials, upgraded cameras, and more. In our previous reporting, we stated that the Galaxy S22 Ultra found a place in this category and became the best-selling Samsung smartphone for this quarter, likely due to providing customers with features belonging to the now-discontinued Galaxy Note series.
With Huawei’s market share declining in the premium market, Apple is taking over the vacuum left by the former Chinese giant. China’s market continues to hold potential, with customers proceeding with upgrades and moving to iPhones.