According to a new report from Counterpoints, the premium smartphone market shipments (>₹30,000 or roughly >US$400) grew 21% YoY, thanks to new launches and aggressive offers.
Samsung regains the top spot in the premium smartphone shipment in the first quarter of 2020, it beats Apple and OnePlus. The reports say the new launch of the affordable premium smartphones like the Galaxy S10 Lite, Note 10 Lite, and the ultra-premium Galaxy S20 series were the main attraction for its growth during the first quarter of 2020.
Price discounts, a good exchange rate, and cashback offer on the Galaxy S20 devices all contributed to Samsung’s growth in the segment, the report added.
The Q4 2019 top rank player, Apple, was on the second position in the Q1 2020. The iPhone 11 remained the best-selling phone in the segment, contributing almost 17% to total shipments. Apple also secured the 55% share in the ultra-premium market (>₹45000 or roughly >$600), registering 326% YoY growth. Thanks to solid online sales of iPhones.
The Chinese company, OnePlus, fell to the third position in the premium smartphone market with share declining to 8% in ultra-premium. The report says the OnePlus 7T was the top-selling model at an affordable premium market.
In Q1, we saw the launch of 5G phones and the entry of new players in the premium smartphone segment, growth was less than expected due to lockdowns, resulting in zero shipments in the last week of March. The Q2 2020 will be more challenging for all smartphone companies in the country.
