Premium phone market slumps, Apple still holds half of it

Counterpoint reports that the market for premium smartphones shrunk 8% globally during the first three months of 2019. It defines smartphones as "premium" based on their price - over $400. Apple's shipments tumbled 20% year on year. Part of the reason is that buyers are holding on to their iPhones for longer - the average is now 3 years while it was once 2 years. Another factor is lower shipments in China. While North America remains the largest market for premium phones (30%), China is close behind (26%). However, the Chinese market was sluggish in the first quarter, which was the...