According to the latest data from According to Counterpoint Research, revenue from global smartphone sales fell 3% year-over-year. The decline in shipments, at 12%, was even worse but a 10% increase in average selling price (ASP) cushioned the larger drop in shipments. Aiding the price increase, 5G phones accounted for 46% of shipments in the quarter, a new record. And Counterpoint points out that 5G-enabled phones cost five times the amount charged for non-5G handsets.
Apple saw its iPhone revenue rise 10% in the third quarter while its average selling price rose 7%
Based on revenue, Apple topped the league table for Q3 2022 accounting for 42% of global smartphone revenue from July to September. That’s up from 37.1% of Apple’s global smartphone revenue in the same quarter last year. Over the course of three months, Apple released the iPhone 14, iPhone 14 Pro, and the iPhone 14 Pro Max The iPhone 14 Plus, with the same size display used in the iPhone 14 Pro Max (6.7 inches), was not released until the first week of October.
Apple accounted for 42% of global smartphone revenue in the third quarter
Apple’s Q3 revenue rose 10% year-on-year while its average selling price rose 7% year-over-year in the third quarter of 2022. Counterpoint noted that positive strength in Q3 revenue, sales of the iPhone 14 Pro and iPhone 14 Pro. The Max got off to a great start compared to the previous year’s Pro models.
During the third quarter, Samsung accounted for 18.3% of global smartphone revenue, a slight decline from the 18.5% the manufacturer accounted for in 2021. Its ASP rose just 2% despite nearly doubling shipments of its pricier Galaxy Z Fold and Galaxy Z Flip foldables. Compared to the third quarter of 2021, Samsung’s revenue fell by 4 percent this quarter.
Xiaomi was third in the third quarter, contributing 8.3% of the total revenue generated by the global smartphone market. This is more than the 7.8 percent share in the same quarter of the previous year. Thanks to strong sales in low-to-mid-range markets, the company’s global handset sales grew 4% year-on-year.
However, Xiaomi saw a decline of around 1.5% in revenue collected from the sale of smartphones priced above $300. This year, Xiaomi focused on phones in the $200-$299 price range instead of the sub-$200 market. As a result, its ASP rose 14% year-on-year to $205.
Oppo and Vivo saw their third quarter negatively impacted by China’s Covid rebound
Oppo, including OnePlus (starting Q3 2021), accounted for just 6% of global smartphone revenue in the third quarter of 2022, down from an 8.1% share of global smartphone revenue in the third quarter of 2021. Oppo’s handset revenue. Compared to the same three months last year, there has been a sharp decline of 27 percent from July to September. Its average selling price has decreased by 5 percent. The problem with Oppo was the Covid rebound in China which saw Oppo’s total phone shipments drop by 40% in the quarter.
Vivo suffered an even bigger decline than Oppo as it accounted for just 5% of global smartphone revenue during the third quarter, compared to the 8.5% share it contributed in the same quarter of 2021. With more than half of its shipments destined for China, the Covid outbreak helped Vivo’s third-quarter revenue drop a sharp 43% year-over-year. On a sequential basis, Oppo’s Q3 2022 global revenue grew 4% from Q2 2022’s reported revenue.
The “others” group accounted for 20.4% of global smartphone revenue in the third quarter of this year. That’s little change from the 20.1% of global smartphone revenue the group accounted for in the third quarter of 2021.
Counterpoint senior analyst Harmeet Singh Walia said, “At more than $80 billion, 5G handsets’ revenue contribution rose to an all-time high of 80% of global handset revenue, up from 69% in the third quarter of last year. During the same period, LTE handsets’ revenue contribution fell 10%. reached $19 billion. This shift from 4G to 5G is led by Apple, which alone accounts for more than half of 5G revenue as 95% of its phones are 5G-enabled.”
