Apple Dominates Global Premium Smartphone Market in 2023, but Huawei Gains Ground on the Back of Its New 5G Handsets
Apple maintained its position as the leading vendor in the global premium smartphone market in 2023, capturing a significant 71% market share, according to a report by Counterpoint Research.
Despite its dominance, Apple's share declined from 75% in 2022 due to the resurgence of Huawei and the success of Samsung's foldable phones.
The premium smartphone market, which includes devices priced at $600 and above, saw Apple as the "undisputed leader" last year. However, Huawei's strong comeback in the 5G handset market with its Mate 60 series impacted Apple's market share.
While Apple's share decreased, Huawei made significant gains, capturing a 5% share, up from 3% in 2022. This growth can be attributed to the release of Huawei's first new 5G smartphones since October 2020. Samsung retained its position as the second-largest player in the premium segment with a 17% share, compared to 16% in 2022.
The Counterpoint report also highlighted the performance of Xiaomi and Oppo, which secured the fourth and fifth spots in the premium smartphone segment with a 2% and 1% share, respectively.
The competition in the premium smartphone market is intensifying, with Huawei's resurgence and Samsung's success in the foldable phone category. Apple will need to continue innovating and offering compelling features to maintain its dominance in the coming years.
Apple remains the top vendor in the global premium smartphone market with a 71% market share.
Huawei gains ground with a 5% share, up from 3% in 2022, thanks to its new 5G handsets.
Samsung retains the second spot with a 17% share.
Source: SCMP