A new report from Counterpoint Research reveals a huge development in the premium smartphone segment in China.
According to the firm, the premium segment ($600 and above) jumped from an 11% share in 2018 to 28% in 2024.
Apple remains at the top of the game with its 54% share in 2024, but it saw a drastic fall from its 64% share in 2023. It’s a different story for Huawei, nonetheless, which, despite being second to Apple, gained a lot in 2024. According to Counterpoint, from its 20% premium segment share in 2023, it increased to 29% in 2024. Among Chinese OEMs, Huawei made the biggest growth in last year in the said segment.
“Huawei has seen a resurgence since 2023 after the brand returned with its 5G Kirin chipset, while Apple’s market share fell to 54% in 2024,” Counterpoint shared. “This was supported by the expansion of Huawei’s 5G Kirin chipset across more new models, such as the Pura series and Nova 13 series. This expansion helped Huawei record a remarkable 37% YoY growth in overall sales volume in 2024, with the premium segment growing even faster at 52% YoY.”
Other brands like Vivo and Xiaomi saw the same improvements in the premium segment, albeit not as significant as Huawei’s performance. Nonetheless, Chinese brands are becoming more prosperous in the $400-$600 segment, with their collective shares jumping from 89% in 2023 to 91% in 2024. According to Counterpoint, this is proof that domestic buyers prefer local products over international ones “as domestic OEMs offer smartphones that are not only more affordable but also deliver robust performance.”
