Apple keeps its top place but OnePlus has changed the dynamics for others in the list.
Year-on-year, smartphone companies outdo themselves and users’ expectations and bring crazy innovations to the market. Often new players find the gap and enter the smartphone market. OnePlus is no exception. In the sea of expensive and premium smartphone brands, OnePlus had very well understood the gap and established its monopoly in the market for around INR 40k price segment.
The premium segment market grows approx. 14% year-on-year basis in terms of sell-in and 18% year-on-year in terms of sell-through. This growth is driven by new smartphones from big players like Apple & Samsung and this race of the best smartphone in the world is also joined by Chinese OEMs like Huawei, OPPO, OnePlus.
These Chinese players have scaled up their presence in the premium segment to provide the best new smartphone experience to their users and have started to capture some market share as well. With Huawei and OPPO already being there for some time, OnePlus smartphones have joined the race and entered the top five premium smartphone brands in the world.
There are lots of reasons for OnePlus smartphones’ success like its focus on performance and features, affordable price tag in the premium category, etc. OnePlus’s performance came on the back of OnePlus 6T.
The OnePlus brand recorded its highest ever sales (mainly in China, India, and Western Europe) in the last quarter of 2018 and continued to lead the premium smartphone segment for three successive quarters in India, capturing 36% market share.
Another achievement came for the brand in the fourth quarter of 2018 when it entered the top five OEMs in the premium segment in the US market. Furthermore, they are now eyeing new geographies for growth.
Apple remained the market leader capturing 51% share of the premium segment, a significant lead over its nearest competitor Samsung, which had a 22% share. However, Chinese brands made their mark as Huawei’s share in the segment reached double digits (10%) for the first time, followed by Oppo and OnePlus at 6% and 2% respectively.
More than 40 manufacturers play in the premium smartphone segment, but these top five brands account for 90% of the global shipments.
These days, people looking for the best smartphones to buy, are willing to pay a slightly higher amount for the best performance smartphones. Considering this smartphone, OEMs are subtly increasing the average selling price of the devices. Going forward with this, the premium smartphone segment is expected to grow in double digits.
The next growth cycle of smartphones is going to be driven by Artificial Intelligence and 5G Technology, readily available in the market. The new OnePlus 7 release is just weeks away, upgrading on these trends along with other features like higher memory configuration, faster processor, triple camera, etc. can help OnePlus to further add up to its sales and opportunities to enter new geographies with 5G availability.
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