The global smartphone market reached $448 billion in revenue last year, according to Counterpoint's latest research. That's up 7% year over year. Notably, the average selling price of smartphones grew 12% year over year to reach $322. This is mainly due to the higher share of 5G smartphones sold which cost more than 4G models.
Counterpoint notes that Apple's revenue from iPhone increased 35% year over year reaching $196 billion 2021. The overall average selling price (ASP) of iPhone grew 14% to $825, over double the global average. Apple also increased its market share in emerging markets like India, Thailand, Vietnam and Brazil.
● Samsung’s smartphone revenue increased 11% YoY to reach $72 billion in 2021, compared to $64 billion in 2020. Its ASP grew 5% to $263 in 2021. Samsung managed to increase its global market share in the mid and premium segments with the launch of the Galaxy S flagship series and increase in the share of 5G phones. 2021 also witnessed the launch of two foldable smartphones — Samsung Galaxy Z Fold3 5G and Z Flip3, which also nudged the overall revenue higher. Samsung shipped three times more foldable devices in 2021 than in 2020.
● Xiaomi’s revenue increased 49% YoY to reach $36 billion in 2021, compared to $24 billion in 2020, mainly due to the increase in shipments and market share for its mid and premium segment smartphones such as the Mi 11x series. In India, the brand’s biggest market, the smartphones priced at $250 and above grew 39% YoY to account for more than 14% of Xiaomi’s India market, compared to 8% in 2020.
● OPPO saw a revenue increase of 47% YoY to $37 billion. Its ASP grew 15% YoY to reach $259 in 2021. The brand saw an increase in shipments in the $400-$599 and $600-$799 price bands, mainly owing to strong demand for the Reno 6 series, Find X3 and OnePlus 9 series. 5G-enabled smartphones contributed more than 50% of the brand’s yearly shipments in 2021 against 28% in 2020. OPPO* also managed to expand its presence in mature markets such as China, Japan and parts of Europe (including Nordic countries), which drove the higher revenue and ASP. OnePlus revenue grew 33% YoY in 2021 driven by the OnePlus Nord series and OnePlus 9.
● vivo’s revenue increased 43% YoY to $34 billion. Its ASP grew 19% YoY to reach $259 in 2021. The brand ranked as the fifth-largest smartphone vendor in 2021 both in terms of revenue and shipments. vivo’s revenue performance was driven by the well-received flagship X60 and S series, exceptional performance in China and a wide product portfolio spread across all price bands.
More details in the full report linked below...