Counterpoint Research on Monday said in a report that the shipment of the premium smartphones registered a 13% year-over-year (YoY) decline during the first quarter of 2020. The company offering industry analysis of the mobile and technology markets said that the premium smartphone segment consisting of devices above US$400 or approximately Rs 30,492 were impacted by COVID-19 pandemic. Crucially, Counterpoint Research said that the premium smartphone segment continued to account for 22% of the global smartphone market. Despite the overall decline of the premium segment, the company said that a section of devices priced between US$600 (Rs 45,738) to US$799 (Rs 60,908) registered a 47% YoY growth.
Oppo and Xiaomi Register Growth in Premium Smartphone Segment
Counterpoint Research said that Apple continued to lead the premium smartphone segment with a 57% market share followed by Samsung and Huawei at 19% and 12% respectively.
However, Oppo and Xiaomi were said to be the only brands that registered a growth in smartphone shipment while other brands are said to have reported a decline. Oppo is said to have recorded 67% YoY growth with its Oppo Reno3 and Oppo Reno3 Pro models contributing to the company’s gains.
Similarly, Counterpoint Research said that Xiaomi recorded a 10% growth with its Mi 10 5G and Mi Note 10 series accounting for most of Xiaomi’s gains in the quarter.
“This is the first time since Q3 2018 that Xiaomi has entered the top 5 players in the Premium segment, globally,” Counterpoint Research said in its report.
The premium smartphone segment is said to have contributed nearly 57% of total global smartphone revenue during the quarter.
Apple, Samsung and Huawei is said to have captured 88% of the total premium smartphone segment with Apple and Samsung emerging as top brands in all regions except china. Counterpoint Research said that Huawei captured the top spot in China with Apple taking the second spot.
iPhone 11 Continues to be Top Draw in Premium Smartphone Segment
The report highlights that Apple iPhone 11 continues to be the top selling model in the premium smartphone segment during the first quarter of 2020. Additionally, four out of the top five models were said to be from Apple with Huawei Mate 30 Pro 5G completing the top five spots.
“This was also the first time that a 5G device entered the top 5 bestselling models in the segment,” Counterpoint Research said in its report.
The company said that the launch of 5G devices by Apple will further play a crucial role in the premium smartphone segment. Additionally, the price point of US$600 to US$799 is said to account for 42% of the premium smartphone segment.
“We also think the premium segment is likely to remain the most resilient from the COVID-19 impact,” Counterpoint Research said in its report.
Born in India, Yogesh loves to travel and has lived in multiple countries including New Zealand and Canada. His bylines can be found on various newspapers and blogs throughout the world, including Vancouver Sun, Surrey Now-Leader, Daily Hive , Investing News Network and Rach F1.