Premium smartphone sales share increases 66% in 5 years

A survey found that the sales share of premium products priced over $600 (about 866,000 won) in the global smartphone market has increased by 66% in five years.



Market research firm Counterpoint announced on the 17th that "the share of products priced over $600 in the global smartphone market, which was 15% in 2020, has increased by 66% to 25% in 2024."



Customers are experiencing the iPhone 16 at the KT iPhone 16 launch event held at the Andaz Hotel in Gangnam-gu, Seoul on the morning of September 20 last year. [Photo = Reporter Kwak Young-rae]

Comparison of global sales shares of smartphones priced over $600 in 2020 and 2024. [Photo = Counterpoint]



Counterpoint Research explained that "Apple led the premium price range with 67% of smartphone sales over $600, followed by Samsung Electronics with 18%."



Last year, among smartphones priced over $600 sold worldwide, products priced over $1,000 accounted for 40%. This is the highest figure since Counterpoint began investigating smartphone sales by price range.



In fact, major smartphone companies such as Apple, Samsung Electronics, Xiaomi, and Oppo are also focusing on selling premium products.



According to Counterpoint's recently announced ranking of the top 10 smartphone models in terms of sales last year, the models are: Apple iPhone 15, iPhone 15 Pro Max, iPhone 15 Pro, Samsung Galaxy A15 5G, iPhone 16 Pro Max, Galaxy A15 4G, Galaxy S24 Ultra, iPhone 14, iPhone 16 Pro, and Galaxy A05.



Apple's iPhone series, which ranked 1st to 3rd, and the Galaxy S24 Ultra, which ranked 7th, are also premium products priced well over $600.



Comparison of global smartphone sales in 2023 and 2024. [Photo = Counterpoint]

Galaxy S24 Ultra Titanium Gray [Photo = Samsung Electronics]



In particular, the Galaxy S24 Ultra is the first Galaxy S series from Samsung Electronics to enter the top 10 in eight years since 2018. Counterpoint explained that more than half of the sales of the Galaxy S24 series occurred in the United States and Western Europe, and that it also showed significant growth in emerging markets such as the Middle East and Africa.



"The Galaxy S24 Ultra is the first smartphone to feature generative artificial intelligence (AI) and has received a great response from consumers," said Harshit Rastogi, Senior Researcher at Counterpoint. "Samsung has been able to secure high sales performance and market dominance by emphasizing this innovative feature."



This year's smartphone market sales momentum is also expected to be driven by AI features. Counterpoint predicted that "five of the top 10 smartphone models last year featured generative AI," and "that number will increase this year."





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