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A report from Counterpoint Research shows that the global high-end smartphone market (wholesale price above US$600) is expected to grow by 6% year-on-year in 2023, accounting for a quarter of total global smartphone sales.
Although the overall market is weak, the high-end market has become a bright spot for growth. Apple remains the market leader and Huawei has rebounded, driven by China’s recovery. Samsung increases market share with S23 and foldable series products.
The high-end markets in China, Western Europe, India and the Middle East will see strong growth in 2023, with India becoming the fastest growing market. Ultra-high-end mobile phones (priced above US$1,000) account for more than one-third of the high-end market.
The premium segment is expected to continue to outpace the entire smartphone industry, with brands with strong brand recognition benefiting the most.
(Source: displaydaily Image source: freepik)
