Huawei records double-digit growth in 2024 global premium smartphone market

Huawei achieved double-digit annual growth in the 2024 global premium smartphone market. Counterpoint reports that Chinese tech vendors have been competitive with global opponents like Apple, Samsung, and others this time.

Counterpoint analysts have ranged the premium segment between $600 to $1000. The ≥$600 premium phones share increased to 25% while ≥$1000 exceeded 40%.

The research firm noted that the global premium smartphone market share reached 25% in 2024. Apple is leading the market with the highest sales share, at 67% YoY.

Samsung has scored 18% of the sales share. In particular, Huawei performed amazingly in the 2024 global premium smartphone market. Counterpoint says that the company has hit a double-digit percentage annual growth in this segment.

The Chinese OEM launched the Pura 70 series in the global market last year. It is packed with several cutting-edge features including a super-sensitive retractable camera, Kirin 9010 5G chipset, unique design, AI photo-editing capabilities, and more.

Huawei records double-digit growth in 2024 global premium smartphone market (Image Credits: Counterpoint)

Mate X6 is another premium Huawei handset that debuted globally last year. It entered the market in December but sparked speculations of Huawei’s strong global return on the back of Kirin 5G processors and home-grown components.

Huawei is now bringing a new premium edition to global consumers: Mate XT tri-fold. The ultimate device will launch at the Kuala Lumpur stage at 4:00 PM MYT.

Apart from Huawei, Chinese brands like Xiaomi, vivo, and Honor scored well in the 2024 global smartphone premium market for their excellent and innovative devices.

US remained the largest contributor to this segment. iPhones and Galaxy S and Z series have seen favorable sales outcomes in the global smartphone market. Markets like India and Latin America continue to grow by 5 and 2.5 times, respectively.

Karn Chauhan – the Senior Research Analyst at Counterpoint, said:

“The premium segment continues to grow as consumers opt for high-end features like better processors, cameras, displays, and GenAI features for an overall better user experience. With current premium smartphone users likely to stay in the price band and newer users entering, the segment will sustain growth.”

2024 global premium smartphone market report (Image Credits: Counterpoint)

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