In 2023, Apple continued to lead the market for high-end smartphones.

According to Counterpoint Research's Q4 2023 statistics, sales of devices costing USD 600 and above increased by 6% year over year, outpacing the market's anticipated fall for smartphones.

According to the company, emerging markets are seeing a growth in the premium smartphone class, which currently accounts for 24% of all handsets on the market. Customers are now prepared to pay more for a premium smartphone that they can use for an extended amount of time, according to Senior Analyst Varun Mishra.

Although its market share has decreased by 4% from the previous year, iPhones continued to be the clear top seller among luxury smartphone manufacturers. Samsung, the most well-known Android manufacturer, is in second place with 17%.

Following at number three with 5%, Huawei has managed to maintain its position despite the US sanctions. Notably, China has been a major contributor to the rise in demand for high-end smartphones, and Huawei remains one of the top selling brands on the Chinese mainland. Xiaomi and OPPO are ranked fourth and third, respectively.

More than China, Counterpoint continued, the premium segment's development is also ascribed to its success in Western Europe, MEA, and India, the latter being the world's fastest-growing market.