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Vivo achieves 504% growth in premium smartphone market

Vivo achieves 504% growth in premium smartphone market

Vivo achieves 504% growth in premium smartphone market.

  • Vivo has surpassed Huawei to become the second-largest premium smartphone brand in China.
  • Apple also topped the $1,000 and over a price range, recording a 147% YoY gain.
  • Vivo caught everyone off guard with its Vivo X80 line of smartphones.

A recent report on the smartphone market in China was released by a global research organization. According to the survey, the premium segment’s market share ($400 and over) increased from 31% in Q2 2021 to 33% in Q2 2022.

Premium handset unit sales, meanwhile, fell by 10%. In any case, this market niche outperformed the total market, whose sales fell by 14%.

The report’s main selling point is the fact that Vivo has surpassed Huawei to become the second-largest premium smartphone brand in China. The business is only second behind Apple, which has a massive 46% market share, with a 13% market share.

Another noteworthy development is Honor’s rise from sixth to fourth with a 9% market share. It has now surpassed Oppo and Xiaomi. These two brands each have a market share of 8%.

The largest market share was lost by Huawei in a single year. Despite being in third place, its share has dropped from 19% to 11%. Additionally, everyone else gained while Xiaomi lost 1%.

As expected, Apple also topped the $1,000 and over a price range, recording a 147% YoY gain. It’s interesting to note that due to its foldables, even Samsung increased by 133% YoY in this market.

However, it was Vivo that caught everyone off guard with its Vivo X80 line of smartphones. The brand saw a 504% YoY rise in its share of the premium market overall.

In Q2 2022, Honor was its main rival. With Huawei’s deterioration, it might continue to do so.

 

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