Per the Q2 data, consumers prioritized smartphones priced between $100 and $400, giving the category a market share of 60 percent.
A breakup of the results shows that under $400 devices accounted for 85 percent of smartphone sales in most Asian Pacific countries, Central and Eastern Europe, Latin America, the Middle East, and Africa.
Market share of under $200 devices increased 10 percent year on year to 27 percent in the US during the last quarter.
The mid-to-high segment, which comprises smartphones with a price tag between $400 and $600, grew 4 percent in Q2 2020, which earned it a share of 11.6 percent.
The category grew the most in China with an 8 percent increase in market share to 21 percent during the second quarter of the year.
Samsung, Huawei, Xiaomi, OPPO, and Vivo dominated the segment in Q2. Apple is a new entrant in this price tier with its iPhone SE, and the phone is performing quite well, which is all the more indication that this is a hot category at the moment.
Average Selling Price of 5G-enabled smartphones expected to go below $500 in the long run
The low ($100-$200) and mid ($200-$400) segments will likely continue to rise in popularity in the future as consumers try to squeeze the most value out of their purchases.
In the long term, smartphones priced between $400 and $600 are expected to see the highest growth, largely because of a projected drop to $465 in the average selling price (ASP) of 5G-ready phones.
The rising affinity for affordable smartphones will supposedly pose a challenge for premium handsets, intensifying competition in the higher-priced segments.
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Anam Hamid is a computer scientist turned tech journalist who has a keen interest in the tech world, with a particular focus on smartphones and tablets. She has previously written for Android Headlines and has also been a ghostwriter for several tech and car publications. Anam is not a tech hoarder and believes in using her gadgets for as long as possible. She is concerned about smartphone addiction and its impact on future generations, but she also appreciates the convenience that phones have brought into our lives. Anam is excited about technological advancements like folding screens and under-display sensors, and she often wonders about the future of technology. She values the overall experience of a device more than its individual specs and admires companies that deliver durable, high-quality products. In her free time, Anam enjoys reading, scrolling through Reddit and Instagram, and occasionally refreshing her programming skills through tutorials.
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