Apple continues to dominate the premium class, according to the latest analysis from Counterpoint Research’s Market Pulse service, with over 50% market share in all key smartphone markets in Q2 2021.
Brands like OnePlus, Xiaomi, and Oppo have also taken a significant piece of the market, but Huawei’s issue has played a significant role in the company’s decline.
Huawei’s global market share has dropped from 17 percent in Q2 2020 to just 6 percent. As a result of the drop, Apple and Samsung were able to grow their presence in the market.
While Apple was able to remain resilient in component procurement and perform well, Samsung was severely harmed by the Covid problem, which caused production disruption in Vietnam.
However, Samsung’s aggressively priced Galaxy Z Flip3 and Z Fold3 are quickly recouping what they’ve lost over the last several months.
Apple wasn’t the only company to benefit from the void left by Huawei in the premium market; Xiaomi and OPPO have also made significant advances. In Europe and China, both brands are significantly investing and marketing in the luxury segment.
Oppo’s Reno and Find series, as well as Xiaomi’s Mi 11 series, are driving sales. In reality, Xiaomi has managed to take third place in a number of markets, including a significant portion of Europe.
OnePlus, on the other hand, benefited from LG’s withdrawal from the smartphone market by securing third place in North America.
Honor, along with other Chinese brands, will enter the luxury class with its Magic series in China and abroad, perhaps reducing Huawei’s market share further.
Even after this reduction, Huawei continues to be one of the top three premium brands in the world in Q2 2021. Huawei’s possibilities of additional growth will improve as the penetration rate of 5G devices rises, but the disadvantage is the company’s restricted reach.
A lot of new entries are fighting against some famous names in the premium market, which has been opened up. Following the resolution of the global chipset scarcity, we may see companies increase their sales.