Global Premium Smartphone Market Continues to See Record Sales in 2023

  • As against the decline projected for the overall global smartphone market this year, the premium (wholesale price $600) market’s sales are likely to grow 6% YoY in 2023.
  • Apple continues to be the premium market’s undisputed leader. However, compared to 2022, its share has declined this year.
  • China, India, MEA and Latin America are likely to set a new record for premium market sales in 2023, with India being the fastest-growing premium market globally.

Seoul, Beijing, Buenos Aires, Hong Kong, London, New Delhi, San Diego – January 02, 2024

The global premium smartphone (wholesale price ≥$600) market’s sales are likely to grow 6% YoY in 2023 to hit a new record, according to Counterpoint Research’s Market Pulse Service. This contrasts with the decline projected for the overall global smartphone market this year. The premium segment is likely to capture close to one-fourth of the global smartphone market sales and 60% of the revenues in 2023. Over the past few years, the premium segment has emerged as a growth area in the otherwise weak market.

Global Smartphone Markets Premium Segment Sales Share
Source: Counterpoint Research’s Market Pulse Service

Note: Sales here represent sell-through; Q4 2023 data is preliminary

Commenting on the premium market’s growth, Senior Analyst Varun Mishra said, “There has been a shift in consumer buying patterns in the smartphone market. Considering the importance a smartphone holds, consumers are willing to spend more to get a high-quality device that they can use for a longer period.  Owning the latest and greatest flagships has also become a status symbol for many consumers, especially in emerging markets where they are jumping directly from the mid-price band to the premium band. Further, these devices are increasingly becoming more affordable due to promotion seasons and financing options.”

Apple continues to be the premium market’s undisputed leader. However, compared to 2022, its share has declined this year. This is mainly due to Huawei’s resurrection in China driven by the Mate 60 series. Samsung has also gained share driven by its S23 and Foldable series. Foldables have also emerged as a differentiator in the premium market.

Top Smartphone OEMs Share in Premium Market 2022 vs 2023
Source: Counterpoint Research’s Market Pulse Service

Note: Q4 2023 data is preliminary

In terms of regions, much of the global premium market’s growth in 2023 is being driven by China, Western Europe, India and the Middle East and Africa (MEA) regions. In fact, China, India, MEA and Latin America are likely to see a new record for premium market sales, with India being the fastest-growing premium market globally.

Within the premium market, it is the ultra-premium segment that is driving the growth. The $1,000 and above price segment has captured over one-third of the total premium market sales in 2023.

Overall, the premium segment is likely to continue to outgrow the global smartphone market. OEMs that can differentiate themselves and, more importantly, build a strong brand will benefit from this segment’s growth.

Please reach out to for press comments and enquiries.

You can also visit our Data Section (updated quarterly) to view the smartphone market share for World, USAChina, and India.


Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Follow Counterpoint Research


Counterpoint research is a young and fast growing research firm covering analysis of the tech industry. Coverage areas are connected devices, digital consumer goods, software & applications and other adjacent topics. We provide syndicated research reports as well as tailored. Our seminars and workshops for companies and institutions are popular and available on demand. Consulting and customized work on the above topics is provided for high precision projects.

Apple Snack Pack


Understanding iPhone

Term of Use and Privacy Policy

Counterpoint Technology Market Research Limited


In order to access Counterpoint Technology Market Research Limited (Company or We hereafter) Web sites, you may be asked to complete a registration form. You are required to provide contact information which is used to enhance the user experience and determine whether you are a paid subscriber or not.
Personal Information When you register on we ask you for personal information. We use this information to provide you with the best advice and highest-quality service as well as with offers that we think are relevant to you. We may also contact you regarding a Web site problem or other customer service-related issues. We do not sell, share or rent personal information about you collected on Company Web sites.

How to unsubscribe and Termination

You may request to terminate your account or unsubscribe to any email subscriptions or mailing lists at any time. In accessing and using this Website, User agrees to comply with all applicable laws and agrees not to take any action that would compromise the security or viability of this Website. The Company may terminate User’s access to this Website at any time for any reason. The terms hereunder regarding Accuracy of Information and Third Party Rights shall survive termination.

Website Content and Copyright

This Website is the property of Counterpoint and is protected by international copyright law and conventions. We grant users the right to access and use the Website, so long as such use is for internal information purposes, and User does not alter, copy, disseminate, redistribute or republish any content or feature of this Website. User acknowledges that access to and use of this Website is subject to these TERMS OF USE and any expanded access or use must be approved in writing by the Company.
– Passwords are for user’s individual use
– Passwords may not be shared with others
– Users may not store documents in shared folders.
– Users may not redistribute documents to non-users unless otherwise stated in their contract terms.

Changes or Updates to the Website

The Company reserves the right to change, update or discontinue any aspect of this Website at any time without notice. Your continued use of the Website after any such change constitutes your agreement to these TERMS OF USE, as modified.
Accuracy of Information: While the information contained on this Website has been obtained from sources believed to be reliable, We disclaims all warranties as to the accuracy, completeness or adequacy of such information. User assumes sole responsibility for the use it makes of this Website to achieve his/her intended results.

Third Party Links: This Website may contain links to other third party websites, which are provided as additional resources for the convenience of Users. We do not endorse, sponsor or accept any responsibility for these third party websites, User agrees to direct any concerns relating to these third party websites to the relevant website administrator.

Cookies and Tracking

We may monitor how you use our Web sites. It is used solely for purposes of enabling us to provide you with a personalized Web site experience.
This data may also be used in the aggregate, to identify appropriate product offerings and subscription plans.
Cookies may be set in order to identify you and determine your access privileges. Cookies are simply identifiers. You have the ability to delete cookie files from your hard disk drive.