Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia
Download Telegram App before Joining the Channel
5G smartphones captured 5 per cent of the global premium market in the third quarter (Q3) of 2019 led by Samsung with 74 per cent share followed by LG with 11 per cent and Vivo with 5 per cent share, a new report by Counterpoint Research has said.
According to Counterpoint Research "Market Pulse" service, the global premium market sell-through, however, declined 7 per cent YoY.
The Samsung Galaxy S10 5G was the top-selling model which captured over one-third of the total sales of all 5G devices.
"All major OEMs in the premium segment now have 5G-capable devices, except Apple. Still, Apple alone captured over half of the premium market in Q3 2019. Apple grew 1 per cent YoY increasing its market share from 48 per cent a year back to 52 per cent during the quarter. iPhone XR was the top-selling model globally in the premium segment," Varun Mishra, Research Analyst, Counterpoint Research, said in a statement.
Huawei remained in the top three OEMs in the premium segment driven by the popularity of its P30 series, especially in China, despite the US ban.
China contributed to over 80 per cent of Huawei's sell-through in the premium segment as compared to 73 per cent in the year ago quarter.
"The trend is likely to continue. It will be difficult for the newly launched Mate 30 series to create any progress outside China because it lacks Google Mobile Services (GMS). GMS is an important enabler for Huawei to continue its success outside China," Mishra noted.
OnePlus recaptured its position among the top five OEMs in the segment and also led the India premium segment, which reached a record high shipment level during Q3.
South Korean smartphone maker LG also captured a spot in the top five, driven by the V50 ThinQ 5G. The firm grew 20 per cent YoY in the premium segment. This is in contrast with its overall smartphone shipments, which declined over 30 per cent YoY during Q3.
The adoption of 5G will play a key role in the growth of the premium segment as well as the overall global smartphone market.
Apple will launch its 5G devices in 2020 driving upgrades among Apple users and potentially pulling in some previous Android users.
"Currently, all the 5G phones available fall within the premium segment, but this will also change in 2020. Major Chinese OEMs will launch 5G-capable devices in the sub-$ 400 price band. China will drive the 5G segment followed by other key markets like the US and Korea," Mishra added.