ASP premium smartphone market reaches a record high in the second quarter of the year

ASP premium smartphone market reaches a record high in the second quarter of the year

  • The global average selling price (ASP) of premium smartphones ($400 and above wholesale price) grew 8% year over year to $780, a record for the second quarter, in the second quarter of 2022.
  • This was primarily driven by 94% year-over-year sales growth in the $1,000 and up price segment.
  • In terms of sales, the premium market continued to outperform the overall global smartphone market for the ninth consecutive quarter.
  • Apple accounted for 57% of sales of the premium smartphone market, while Vivo surpassed OPPO to become the third largest premium smartphone brand for the first time.

Beijing, London, San Diego, Buenos Aires, New Delhi, Seoul, Hong Kong – September 1, 2022

The global premium smartphone market ($400 and up at wholesale price) average selling price (ASP) grew 8% year-over-year to $780, a record for the second quarter, in the second quarter of 2022, according to Counterpoint Research’s Market Pulse Service. This was primarily driven by 94% year-over-year sales growth in the $1,000 and up price segment. This segment alone accounted for more than a quarter of premium smartphone sales and more than a fifth of global smartphone revenue in the second quarter of 2022. The growth of this segment also drove global smartphone ASP to an all-time high in the second quarter.

Global premium smartphone market share by price range;  Global Distinguished ASPs Market

Source: Counterpoint’s Global Monthly Phone Sales Model Tracker (By Sell), August 2022

Commenting on the growth of the $1,000 and above price segment, Chief Analyst Varun Mishra He said, “As 5G becomes more prevalent, consumers are upgrading their devices. This is especially important, as the large installed base of premium iPhone users is being upgraded to 5G. Apple sales grew 114% year over year, capturing more than 78% From the price segment of $1,000 and up Consumers whose finances have not been affected by the pandemic are using the additional disposable income resulting from travel restrictions to purchase more expensive devices, including smartphones.During the pandemic, users have also realized the importance of smartphones and are starting to see more value in upgrading their devices.Another interesting factor is that this trend in the ultra-high-end market is omnipresent across regions, despite inflationary pressures.This is because affluent consumers are not affected by the current economic headwinds.Hence, the low-to-medium price segment has been hit severely off the recent macro headwinds, while the high price segment continues to look strong, further supporting ASP.The growing number of financing schemes and a growing ecosystem of additional trade and EMIs are also Also promise consumers to upgrade their devices without paying the total price up front.”

The growth of this segment also helped stem the decline in revenue. Despite the decline in unit sales, the revenue of the global premium smartphone market remained flat year-on-year. As lower price levels were further affected by inflationary pressures, the premium market revenue contribution to the overall smartphone market increased to 60% in Q2 2022 from 58% in Q1 2022.

In terms of volume, sales in the premium segment fell 8% year over year in the second quarter of 2022, but outperformed the overall smartphone market, which was down 12%. This is the ninth consecutive quarter in which the premium market performance has outperformed the overall growth of the smartphone market.

Apple continued to lead the premium segment with a share of 57% as the installed 4G iOS base continued to upgrade. Sales and promotions in the US remained strong during the quarter. There was no evidence of any macroeconomic effect on demand. Apple also continued to successfully include new users as switching growth hit a new record during the quarter, driven largely by strong growth in emerging economies.

Global Premium (>$400) Smartphone Sales Share by OEM, Q2 2021 vs Q2 2022

Global Outstanding Market Share by Original Equipment Manufacturers (OEM) Q2 2022 vs Q2 2021

Source: Counterpoint’s Global Monthly Phone Model Sales Tracker

Samsung’s sales grew 2% year-over-year and its share also increased as the S22 Ultra continued to be the best-selling Android smartphone in the premium segment for the second consecutive quarter.

The share of OEMs OPPO, Xiaomi and Huawei declined as their home market suffered during the second quarter of 2022, posting the lowest quarterly sales since the fourth quarter of 2012. However, vivo sales grew by 59% year-on-year as it outperformed OPPO To become the third largest luxury smartphone brand in the second quarter of 2022 for the first time ever. Most of this growth came from China, driven by the X80, S15 and iQOO 9 series. vivo also became the second largest luxury smartphone brand in China for the first time ever. It was also the largest smartphone manufacturer in China in the affordable price category ($400 – $699), driven by the X80 series.

HONOR was the main driver behind the increase in the share of “other” brands. The brand has expanded rapidly in China over the past few quarters. The HONOR 70 was the best-selling model in the luxury segment, followed by the Magic 4. The contribution of overseas markets to HONOR sales is also likely to increase as the brand enters new geographies.

Going forward, the premium segment will likely continue to outperform the global smartphone market. Commenting on the forecast, Research Director Tarun Pathak He said, “The second half of the year will also see major launches like Samsung’s new Fold series and Apple’s new iPhone series, which are likely to drive growth in the premium segment. Chinese OEMs will also start bringing their foldable devices to global markets, Leading to further expansion of the premium market portfolio.Higher BoM and operational costs backed by higher raw material prices, rising inflation, and fluctuations in foreign exchange rates have increased pressure on OEMs to maintain profitability, which will be reflected on the growth of ASPs. All of these factors will continue to drive ASPs higher in 2022. We believe the premium trend has already begun in many markets, here it is to say.”

Notes: The analysis is based on wholesale ASP. OPPO includes OnePlus and vivo includes IQOO.

Please contact us at [email protected] For comments and press inquiries.

You can also visit our data section (updated quarterly) to view the smartphone market share in the world, USA, China and India.

background

Counterpoint Technology Market Research is a global research company specializing in products in the TMT (Technology, Media and Communications) industry. It serves major technology and financial companies with a mix of monthly reports, customized projects, and detailed analyzes of the mobile and technology markets. Its lead analysts are seasoned experts in the high-tech industry.

Analyst contacts:

Taron Pathak

Varun Mishra

Ravianesh Yadav

Follow Counterpoint Research


Related Posts

Nothing found


#ASP #premium #smartphone #market #reaches #record #high #quarter #year

Leave a Comment

Your email address will not be published. Required fields are marked *