Newest entrant in the premium segment OnePlus gains ground even as the overall segment declines globally

Smartphone Premium segment globally saw an 8% decline year on year mainly as Apple shipments fell 20% year on year in Q1 2019, according to Counterpoint. But new to premium segment, OnePlus is gaining ground. Major reason of fall in Apple's shipment, Counterpoint says, is  trend of users holding onto ir iPhones for longer. replacement cycle for iPhones has grown to over three years, on an aver, from two years. 

 Enter, Chinese smartphones, that are w freshly entering premium segment that was mainly ruled by two major players, Apple and Samsung.  

 Although Apple’s market share fell, Samsung came out stronger in premium segment. Last year, Samsung launched three devices inste of usual two in its S series, which helped in covering wider price points and ended up with one-fourth of global premium segment, its highest ever share over past year. t only that Galaxy S10 was one of most anticipated premium phones and Samsung me substantial design changes in Galaxy S10 series. better value proposition Galaxy S10 series offer compared to high-priced iPhones helped Samsung close gap to Apple in global premium segment. 

 Better value proposition is what seemed to have worked for Chinese players as well, specially OnePlus. OnePlus me its mark in premium segment globally post launch of one of its most popular phones, OnePlus 6T. And despite  global premium smartphone market declining in first quarter, OnePlus has mand to gain a foothold in premium segment. “While we are at st where industry is changing in a rapid pace, we see this as an opportunity for OnePlus to gain ground in premium smartphone market,” said Pete Lau, CEO, OnePlus. “Our ‘Never Settle’ approach to constantly offer best techlogy possible has me us one of top five premium smartphones and it will continue to help build our user community and increase brand’s global presence.” 

 Even with overall performance of premium segment, OnePlus smartphone sales increased by 45 percent in 2018. OnePlus also became top-selling smartphone in India after launch of OnePlus 6T. After from rave reviews from all over, OnePlus has also mand to do well as consumers are looking outside of tritional OEMs and are switching to new devices from newer brands. 
 
It’s certainly a great feat for a six-year-old company that has mand to make a place for itself in global premium smartphone segment despite lengning replacement cycles, increased market competition and saturation. But it will be interesting to see how OnePlus will continue to grow in segment that has always been ruled by Premium phone OGs, Apple and Samsung. 

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