iPhone-dominant premium smartphone market generated record sales in 2023

Even as overall sales of smartphones continued to decline globally, premium models like the iPhone 15 Pro are predicted to have hit a new record with 6% growth year over year.Apple's iPhone 15 Pro MaxGlobally, sales of smartphones have been falling for some years, although the iPhone 15 have bucked the trend — and Apple's market share has continued to grow. But Counterpoint Research's figures for 2023 — including preliminary estimates for Q4 — show a different picture for the so-called premium market.'The global premium smartphone (wholesale price $600) market's sales are likely to grow 6% YoY in 2023 to hit a new record,' says the research firm in a statement. 'The premium segment is likely to capture close to one-fourth of the global smartphone market sales and 60% of the revenues in 2023.' Continue Reading on AppleInsider | Discuss on our Forums