The average selling price of premium smartphones has increased

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The average selling price of premium smartphones has increased

Science and Technology Desk: The average selling price of high-end smartphones in the global market increased by 8% year-over-year. According to a recently released report, the average price hit $780 in the quarter ending June this year. News gadgets now.

Apple controls 57% of the high-end smartphone market. Where Vivo overtook Oppo as the third largest premium smartphone for the first time. The shift comes as sales of smartphones priced at $1,000 or more are up 94% year over year.

According to a report by Counterpoint Research, the high-end market has outpaced the overall smartphone market in terms of sales for nine consecutive quarters. In the second quarter of 2022, the segment alone contributed a quarter of premium smartphone sales and a fifth of total revenue.

Varun Mishra, a senior researcher at the market research firm, said users are switching devices as 5G technology becomes more popular. This is particularly significant. Because most iPhone users have migrated to 5G. Because of this, Apple’s sales increased 114% year over year. Thanks to which the Cupertino-based tech giant managed to control 78% of the $1,000 or more smartphone market.

Consumers whose incomes were unaffected by the Covid-19 pandemic and the money they earned from not traveling spent it on expensive devices, including smartphones.

The premium segment of the smartphone market grew by 60% in the second quarter as the affordable smartphone segment was hit by inflation. In the first quarter of the year, the rate was 58%.

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