According to the latest data from Counterpoint Research, global smartphone sales fell 3% year-over-year. The decline in sales was up to 12%, but the average selling price (ASP) of smartphone lines increased by about 10%, saving the global smartphone market from too dismal statistics. The increase in the average selling price of smartphones is attributed to 5G, when users tend to choose smartphones with 5G integration more than before. Specifically, 5G smartphones accounted for 46% of product sales in the last quarter, the most ever.
iPhone revenue increased 10% in the third quarter, average selling price increased 7%
In terms of revenue, Apple is maintaining the number one market position in the third quarter of 2022 with about 42% of total revenue. This number continues to increase compared to the same period last year at 37.1%. During September, Apple launched the iPhone 14, 14 Pro and 14 Pro max. It is thanks to new Apple products that have brought significant revenue to this corporation. Revenue from Iphone increased by 10% while the average selling price increased by 7% over the same period. According to the assessment, this year’s iPhone 14 is superior to the same version of the previous year.
Meanwhile, Apple’s competitor Samsung accounts for about 18.3% of global revenue. decrease compared to the same period last year. Samsung’s average selling price increased only 2% despite sales of the Galaxy Z Fold and Z Flip series nearly doubling. Its smartphone revenue fell about 4% year-over-year.
Xiaomi ranked third with 8.3% market share in revenue, up from 7.8% in the same period last year. Its smartphone sales increased by 4% year-on-year, mainly thanks to mid-range and low-cost models. However, its revenue still fell nearly 1.5%. This year, Samsung focused on models in the $200-299 price range, instead of the $200 price segment. As a result, the average selling price of its smartphones increased 14% to $205.
Particularly, the sales of Oppo and Vivo decreased due to the impact of Covid-19 in China. Oppo accounts for only 6% of global revenue. Decrease compared to the same period last year. Its revenue plummeted 27% in the July-September period while the average selling price fell 5%. Vivo even faced more difficulties when sales fell 43%. Its share of global revenue also fell to just 5%, from 8.5% a year ago. In total, these 6 major manufacturers almost take over the global smartphone market revenue, accounting for nearly 80%. The remaining 20.4% of revenue comes from other manufacturers. This figure was almost unchanged compared to the third quarter of the previous year.