Counterpoint Agency Preview Report stated that the upward shift in the industry is driven by emerging markets such as Southeast Asia, where consumers are willing to pay more for features that were only available on high-end devices a few years ago.
The smartphone market has been moving towards better quality products over the past five years, the report said. This is due to technological advancements in various components, as well as consumers' willingness to pay more for their devices, especially in emerging markets. Two of the key development areas are
- Cameras, currently there are usually three or four cameras to overcome the limitation of smartphone size.
- SoC processing speed continues to rise to support the AI algorithms required by today's complex imaging systems.
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Tarun Pathak, Director of Smartphone Research at Counterpoint said,
Technological advancement is what drives the industry upwards, which is why we have access to better cameras, longer battery life, more storage space, faster phones...etc. Although the average selling price of smartphones ( ASP) is increasing, but these increases are not commensurate with the higher quality experience offered at this price.
Interestingly, consumers in emerging markets such as Southeast Asia and Latin America are helping ASPs grow faster than the global average, and a large number of price-conscious consumers are upgrading their legacy devices to their second or third devices. In Southeast Asia, the average selling price has increased by an average of 15% per year over the past three years, while Latin America also achieved double-digit year-on-year growth last year.
The availability and integration of chips like the MediaTek Dimensity 9000 5G is helping OEMs like TECNO enter the premium segment with its upcoming Phantom X2 flagship. Excellent camera experience solidifies TECNO's new flagship model and its penetration in the high-end market.
Jimmy Hsu, deputy director of TECNO Image R&D Center said,
TECNO product portfolio is about to develop into high-end products. The Phantom X2 flagship product equipped with Dimensity 9000 5G brings this strategy to a climax. One of the most difficult problems, is great night shots.
TECNO Phantom X2 flagship phone is expected to be released in December this year.
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