Apple’s Market Share in the Premium Smartphone Segment Remains Unrivaled, Despite a Drop in Sales
Apple has once again enjoyed a large piece of the market share for the premium smartphone segment during the Q1 2019 quarter. Its iPhone range still sells in droves despite a slowdown of sales, and the company’s grip does not appear to loosen. However, that doesn’t mean it can continue to rely on its mobile devices to bring in a bulk of its revenue, as the technology giant has shown to rely on other avenues to cover up for that loss. Additionally, Apple’s competitors are closing on that market share, but it will take a significantly long time before the company’s dominance is threatened.
Apple’s Market Share for the Q1 2019 Period Stands at an Impressive 47 Percent, but Global Sales Continue to Plummet
According to the latest figures from Counterpoint Research, Apple has a 47 percent market share in the premium smartphone segment. Unfortunately, this particular market tanked 8 percent year-over-year, and iPhone sales slid 20 percent during the same period. Counterpoint Research’s Varun Mishra details on why this continues to happen.
“According to our analysis, the trend of users holding onto their iPhones for longer has affected Apple's shipments. The replacement cycle for iPhones has grown to over three years, on an average, from two years. On the other hand, substantial design changes in the Galaxy S10 series and the better value proposition it offers compared to high-end iPhones helped Samsung close the gap to Apple in the global premium segment.”
Also, Huawei possesses a 16 percent market share for the same segment but there’s no telling how far that figure will drop as a result of the Trump ban. Still, the research does end on a positive note, stating that as the 5G standard continues to grow in popularity and branches out to different markets, more customers will want a taste of what the standard is capable of achieving, hence the need to purchase 5G-ready phones will be on the rise.
Apple is expected to launch its first wave of 5G iPhones next year, but that’s already a year behind and there’s no telling how much the company’s smartphone sales would have dropped by then in favor of the competition’s offerings. Analysts have stated that Apple’s upcoming iPhone XI family might not have compelling features but next year’s 5G range might be a worthy upgrade.
Do you think Apple’s market share for the premium smartphone space will continue to slide, or can the iPhone behemoth gain some much-needed momentum in the coming months? Tell us your thoughts down in the comments.
Source: Counterpoint Research