The iPhone average selling price (ASP) hit double-digit growth last year, increasing 14% year-on-year. The popularity of the iPhone 13 was the key driver, helping propel the global smartphone market as a whole to record annual revenue of $448B.
Despite component shortages, the smartphone market grew 7% year-on-year, with Apple taking by far the largest slice of the pie …
Market intelligence company Counterpoint published its latest estimates today.
The global smartphone market revenue crossed $448 billion in 2021, according to the latest research from Counterpoint’s Market Monitor Service. It grew 7% YoY and 20% QoQ even as component shortages and COVID-19 restrictions continued to disrupt supply chains around the world.
Smartphone average selling price (ASP) grew 12% YoY to reach $322, mainly due to a higher share of 5G smartphones, which have a significantly higher ASP than the 4G models, as well as Apple’s successful launch of its iPhone 13 devices.
Apple took home 44% of total worldwide smartphone revenue, thanks to both high demand and an ASP that hit $825.
Apple’s iPhone revenue increased 35% YoY to $196 billion in 2021. It captured 44% of total global smartphone revenue in 2021.
The high demand for 5G-enabled iPhone 12 and 13 series helped Apple register 14% growth in its overall ASP, which reached $825 in 2021. The brand also managed to increase its share in key emerging markets such as India, Thailand, Vietnam and Brazil.
Samsung was in a very distant second place, with total smartphone revenues of $72B, and an ASP of just $263. They were followed by Oppo (which now includes OnePlus), Xiaomi, and Vivo.
Counterpoint last month reported that Apple overtook Samsung in Europe to hit its highest ever market share in the region. While the average growth in the European smartphone market was 8%, Apple enjoyed a massive 25% rise in its share.
FTC: We use income earning auto affiliate links. More.