Global Smartphone Average Selling Price Rises By 10%

Global Smartphone Average Selling Price Rises By 10%

In the third quarter of 2022, sales in the global smartphone market decreased by 3% compared to the same period last year. This is according to Counterpoint’s latest Market Monitor Service report.

The 10% year-over-year increase in average selling price (ASP) can be attributed to the resilience of the smartphone sector in the face of economic uncertainty.

The contribution of 5G smartphone shipments (46%), which is five times the average of non-5G smartphones, also contributed to revenue and application growth.

In terms of shipments, the mobile phone market declined 12% year over year in the quarter.

Commenting on the impact of 5G smartphones on ASP growth, Senior Analyst Harmeet Singh Walia noted that 5G phone sales of more than $80 billion hit an all-time high of 80% of global phone sales. This is up from 69% in Q3 2021.

“Over the same period, the revenue contribution from LTE devices decreased 10% to $19 billion. This transition from 4G to 5G was led by Apple, which generates more than half of 5G revenue as more than 95% of phones support 5G. ..” It was reported on Tuesday (December 27, 2022) on Counterpoint’s official entrance.

Walia also revealed that Apple reported revenue growth of 10% year-over-year and 7% year-over-year in ASP in the third quarter of 2022. This contributed to the overall increase in global smartphone ASP.

“This is partly due to the well-done launch of the iPhone 14 series and Pro models, especially the previous generations,” said Walia.

Samsung, the second-largest OEM by revenue, saw a modest 2% year-over-year increase in ASP in the third quarter of 2022.

In fact, shipments of the Flip and Fold series nearly doubled over the same period, and sales of the company’s overall 5G smartphones also increased by 27% year over year.

The decline in ASP growth rate is due to the shift of focus from the S22 series to the foldable series. As a result, Samsung Electronics’ sales in the third quarter of 2022 decreased by 4% compared to the same period last year.

Meanwhile, Xiaomi’s sales grew by 4% year-over-year. Most of the revenue comes from the low-mid range.

The share of shipments in the $300+ price range fell to nearly 1.5%. However, there is a significant shift from the sub-$200 price point to $200-$299. As a result, Xiaomi’s ASP grew 14% year-on-year to $205.

On the other hand, sales of ASP and Oppo (including OnePlus) decreased by 5% and 27%, respectively, compared to the same period last year.

The decline in sales is mainly due to the decline in OPPO shipments in China, which has been affected by the coronavirus. This contributed to more than 40% of total shipments in Q3 2022.

With China accounting for more than half of Vivo’s total shipments, Vivo’s revenue took a bigger hit at 43% YoY, despite growing 4% YoY (QoQ).

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