Samsung dominated the premium smartphones segment in H1 2018: CMR

According to a new report by the research firm, Samsung dominated the premium smartphones segment, with almost 50 percent of the premium market segment share.

"The premium smartphone segment, though small, is driven by aspirational, tech-savvy millennials and in the coming years, will continue to grow significantly. Samsung's flagship Galaxy S9 helped it garner a lion's share of the premium smartphone segment," Prabhu Ram, Head-Industry Intelligence Group, CMR, said in a statement.

It said Samsung was followed by OnePlus, which grabbed the second spot with a 25 percent share, and Apple with a 22 percent share.

"The success of OnePlus 6 can be traced to the intelligent brand strategy of packing the best specs at competitive price points, contributing to the emergence of a new 'budget premium' smartphone segment under sub-Rs 30,000," added Ram.

CMR said 90 percent millennials and other professionals seek speed and agility while making their next smartphone purchase.

"Millennial consumers are increasingly demanding and discerning, with increased awareness and expectations from smartphone brands while looking for a replacement, whether it be in terms of specs or features, pushing them towards opting for premium brands," added Prabhu.

The research firm also predicted that 2H 2018 and the festive season will see an intense competition for the top three players from a range of new players, who will vie for a piece of the "aspirational premium market" pie.

"In the festive season, the new 'budget premium' segment will see an aggressive competition from new entrants, including Huawei, VIVO, OPPO and POCO from Xiaomi, taking the fight to established market leaders, like Samsung, Apple and OnePlus. With many new flagship launches planned ahead, the competition will be intense," added Prabhu.