Counterpoint report reveals that the global smartphone market revenue crossed $448 billion in 2021. Despite the challenges in the global chip crisis that have affected many industries, the global smartphone market is expected to grow by 7% in 2021 compared to the year 2020.
According to the report, Samsung’s smartphone revenue grew 11% YoY to reach $72 billion in 2021, compared to $64 billion in 2020. Its ASP rose 5% in 2021 to $263. Samsung has been able to increase its global market share in the mid and premium segments with its launch of the Galaxy S flagship series and increase in the share of 5G phones.
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Samsung launched two foldable smartphones – the Samsung Galaxy Z Fold 3 5G and the Z Flip 3, which also boosted overall revenue. Samsung shipped three times more foldable devices in 2021 than in 2020.
However, Apple’s iPhone revenue grows 35% in 2021 to $ 196 billion. It captured 44% of total global smartphone revenue in 2021. High demand for the 5G-enabled iPhone 12 and 13 series helped Apple to record a 14% increase in its total ASP, which reached $ 825 in 2021.
Combined with OPPO and OnePlus figures, the company reported 47% annual revenue growth of $37 billion. Devices such as the Reno 6 Series, Find X3 and OnePlus 9 contributed to the increase in device shipments in the $400- $599 and $600- $799 price ranges.
Aside from this, the Chinese OEM Xiaomi achieved 49% annual revenue growth ($36 billion) in 2021. India continues to be one of Xiaomi’s largest markets, contributing to the growth of shipments of high-end and mid-tier phones in the region. Vivo’s ASP grew 19% to $ 259 in 2021, while manufacturers’ revenue increased 43% to $ 34 billion.
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