New Delhi, 17 February (IANS). The premium smartphone stake in the global market has increased from 15 percent to 25 percent in 2024. The reason for this is to choose the high-end device of most customers. This information was given in a latest report on Monday.
According to Counterpoint Research’s’ Global Handset Model Sales Tracker ‘, the premiumrs’ trend remains strong with an increase of 8 percent annually in the premium segment, which has also surpassed the 5 percent increase in the total smartphone market.
In this segment, Ultra-Pramium smartphone, which costs more than $ 1,000, now holds more than 40 percent of the premium smartphone sales for the first time.
Karna Chauhan, senior research analyst at Counterpoint Research, said, “Consumers are choosing high-end features such as better processor, camera, display and GenAI facilities, which gives a better user experience in total. As a result, the premium segment continues to continue to increase continuously. . “
He said that long-lasting software support and Future-Redware has ensured the long life of these smartphones, which makes their higher prices even more appropriate.
Chauhan said, “This segment will continue to increase, with the possibility of the existing premium smartphone user stay in the price-band and new users entry.”
Since 2020, there has been a great increase in the premium smartphone segment in emerging markets with an increase of 5 times in India and more than 2.5 times in Latin America.
The boom is due to a change in consumer preferences towards the top brand, easy finance option and trade-in offer.
The report said that Apple has been the biggest beneficiary of this change in 2024 with 67 percent market share. However, this is less than 72 percent of the previous year, as competitors such as Samsung, Huawei and Xiaomi have gained an edge.
Samsung gained 18 percent stake with strengthening its position in the premium category. ‘Smartphone brands’ are giving priority to profits more than sales numbers, which is increasing the number of premium smartphone models.
In 2024, around 300 premium smartphones models were active in the market, while a significant portion of organizing and monitoring goods in the retail and e-commerce industry continued to decline in the total number of smartphone stock keeping units (SKUs).
The report stated that the United States remained the largest premium smartphone market in 2024, which contributed 25 percent to global sales.
-IANS
SKT/ABM
