The global premium smartphone market (US$400 and above wholesale price) average selling price (ASP) grew 8% year-over-year (YoY) to reach $780, a second-quarter record, in quarter two (Q2) of 2022, according to Counterpoint Research.
This was mainly driven by the 94% YoY sales growth in the $1,000 and above price segment. In terms of sales, the premium market continued to outperform the overall global smartphone market for the ninth consecutive quarter.
Apple captured 57% of premium smartphone market sales. Counterpoint says there was no evidence of any macroeconomic impact on demand. Apple also continued to successfully onboard new users as switcher growth hit a fresh record during the quarter, largely driven by robust growth in emerging economies.