In 2021, the worldwide smartphone market will be worth $448 billion. Even as component shortages and Covid-19 restrictions continued to disrupt supply chains around the world, it grew 7% YoY and 20% QoQ, according to a new report released on Friday.
According to Counterpoint, the average selling price (ASP) of smartphones increased by 12% YoY to $322, owing to a bigger share of 5G handsets, which have a substantially higher ASP than 4G models, as well as Apple’s successful launch of its iPhone 13 devices.
Additionally, in 2021, more 5G-enabled models were produced as OEMs such as Xiaomi, Vivo, OPPO, and Realme concentrated on meeting a growing demand for inexpensive 5G smartphones in emerging countries such as India, Southeast Asia, Latin America, and Eastern Europe. As a result, 5G-enabled smartphones will account for more than 40% of worldwide smartphone shipments in 2021, up from 18% in 2020.
Due to the pandemic-related schooling, work, and entertainment from home, there has also been a global growth in demand for mid-range and premium smartphones, persuading some people to upgrade their devices for a better overall experience. Finally, major OEMs have increased the retail pricing of some of their entry and mid-tier smartphones due to a global shortage of smartphone components.
In 2021, iPhone revenue climbed by 35% year over year to $196 billion. In 2021, it accounted for 44% of total worldwide smartphone revenue. Apple’s overall ASP increased by 14% in 2021, reaching $825, thanks to strong demand for 5G-enabled iPhone 12 and 13 models. In addition, the brand increased its market share in important emerging markets like India, Thailand, Vietnam, and Brazil.
Samsung’s smartphone revenue climbed 11% year on year in 2021, to $72 billion, up from $64 billion in 2020. In 2021, its ASP increased by 5% to $263.
With the launch of the Galaxy S flagship series and an increase in the share of 5G phones, Samsung increased its global market share in the mid and premium classes. In addition, two foldable smartphones a” Samsung Galaxy Z Fold3 5G and Z Flip3 a” were released in 2021, boosting overall income. In 2021, Samsung will ship three times as many foldable devices as it did in 2020.
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