Huawei captured new ground year on year with a 5 per cent share

Apple is still leading the smartphone’s premium segment in 2023 but saw its worldwide share decline mainly because of US-sanctioned Huawei Technologies’ strong 5G handset market comeback with its Mate 60 series.

Apple remained the leader last year with a dominant 71 per cent share, according to the latest industry report released by Counterpoint Research.

Samsung retained the global No. 2 spot in the premium segment with a share of 17 per cent, compared to 16 per cent in 2022. Still, No 3 Huawei captured more new ground year on year with a 5 per cent share, up from 3 per cent in 2022, according to the Counterpoint report.

The latest market data shows the resilience of the premium segment, despite the projected decrease in the overall global smartphone market in 2023 – global handset shipments are forecast to hit their lowest level in almost a decade with a 5 per cent decline, according to an earlier Counterpoint report.

The premium segment, meanwhile, was expected to account for nearly one-fourth of global smartphone market sales and 60 per cent of the industry’s revenue in 2023. Counterpoint data shows that the so-called ultra-premium segment, where smartphones cost more than US$1,000, accounted for one-third of total premium handset sales last year.

“There has been a shift in consumer buying patterns in the smartphone market,” Counterpoint senior analyst Varun Mishra said in the premium segment report. “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.”