China’s entry-level segment (<$150) of the smartphone market rose 22% year-over-year (YoY) in quarter one (Q1) of 2023, despite a decline in the overall domestic smartphone market, according to Counterpoint Research. And Apple’s market share continues to grow.
According to Counterpoint, China’s smartphone market is witnessing a surprising shift in the landscape. In Q1 2023, China’s overall smartphone market fell 5% YoY. However, going against the grain, the entry-level segment (<$150 wholesale price) increased significantly by 22% YoY during the quarter, notes the research group.
Over the years, Chinese smartphone manufacturers have been mostly targeting the premium segment. Android smartphones have actively pushed the trend of premiumization in China, hoping to capture more market share from established players like Apple in the ultra-premium (>$800) segment, according to Counterpoint. Nevertheless, Apple’s market share has continued to grow, reaching its highest in recent years, notes the research group.
In Q1 of 2023, Apple reached its highest first quarter smartphone share and sales in years, adds the research group. iPhone 14 series prices have been reduced at some channels since February. In Q1 2023, Apple recorded the biggest share in the China smartphone market, increasing sales by 6% year-over-year in a declining market. The iPhone maker’s market share in Q1 came to 19.9%, its highest Q1 share since 2014, while its sales were also the highest Q1 sales since 2015.
Article provided with permission from AppleWorld.Today