Apple's Dominance in Premium Smartphone Market Grows in 2022

Despite a 12% YoY decline in global smartphone sales in 2022, the premium (≥$600 wholesale price) smartphone market grew 1% YoY, contributing to 55% of the total global smartphone market revenue for the first time ever. The growth in the premium segment is due to affluent consumers being more immune to macroeconomic difficulties, people spending more on their devices, and the "premiumization" trend across regions. Apple captured three-fourths of all smartphone sales in the premium market, followed by Samsung. Android has been ceding share to iOS in the premium segment, but Android could see a new wave of growth in 2023 with more OEMs launching foldable devices.