Consumers increasingly prefer high-end smartphones

The premiumization trend in the smartphone market is on the rise, with more and more consumers opting for more expensive devices. The premium smartphone market share has increased from 15% in 2020 to 25% in 2024 thanks to steady demand from users who want to own feature-rich products.

Consumers increasingly prefer high-end smartphones for more features

Apple will continue to lead the premium segment in 2024, capturing over 67% of the premium device market, although this is down from 72% last year as competitors such as Samsung, Huawei, Xiaomi and Google gradually narrow the gap. In particular, the market share of "ultra-premium" smartphones (priced at $1,000 or more) grew by over 40% for the first time, showing growing interest from users in the most advanced versions.

High-end smartphones take off in India

The report also pointed out that while the US is not the country with the fastest internet in the world , it has the highest premium smartphone market share at 25%, followed by China at 24%. India, one of the largest smartphone markets, has seen a five-fold increase in the premium segment since 2020 as consumers favor top brands.

While some consumers may struggle to afford expensive phones, financial incentives and easy return programs have made them more accessible. The premiumization trend is expected to continue as emerging regions continue to increase prices, albeit at a slower pace. The premium segment in China, in particular, is expected to grow further thanks to smartphone subsidies.

Device makers, for their part, are trying to justify the high prices by offering long-term software support and future-proof hardware. Samsung and Google have already started offering up to seven years of software support for their product lines, surpassing Apple's five-year support for the iPhone. Meanwhile, Apple CEO Tim Cook has emphasized that ecosystem engagement is important in attracting users, especially in markets where Apple Intelligence is deployed.

Source: https://thanhnien.vn/nguoi-tieu-dung-ngay-cang-chuong-smartphone-cao-cap-185250218094724444.htm