In a yr rocked by COVID-19 and provide chain disruptions, international smartphone market pockets $448Bn in income

With the necessity for on-line training, work, and leisure accelerated by the pandemic and the demand for smartphones going up, it was solely a matter of time earlier than the swell within the international smartphone market was observed. Regardless of the worldwide chip scarcity, disruption of provide chains, and COVID-19 restrictions, the smartphone market internationally has clocked a year-over-year progress of seven% to pocket $448 billion in income final yr.

That is additionally a rise of 20% quarter-over-quarter, in keeping with a report by Counterpoint’s Market Monitor Service.

It appears that evidently the highest 5 smartphone manufacturers on this planet – Apple, Samsung, Xiaomi, Oppo, and Vivo – have contributed over 85% of the annual income. As soon as once more, it’s Apple who leads from the entrance on the successes of its iPhone 12 and 13 units, that are able to connecting to 5G wi-fi networks. The excessive demand for these units, together with different 5G-enabled smartphones, noticed them make up over 40% of the worldwide smartphone shipments final yr. It is a drastic enhance from the 18% it contributed in 2020.

Counterpoint’s Market Monitor Service additionally famous the year-over-year progress of the smartphone common promoting value (ASP) by 12% to come back at $322. This has been doable not solely because of a better share of 5G units but additionally as a result of elevated retail value of some entry and mid-tier smartphones (which was achieved as a result of chip scarcity and provide chain disruptions).

Allow us to see how the main smartphone producers of the world did. Apple, realme, and Motorola clocked their highest-ever revenues in 1 / 4 within the winter quarter of final yr. For 2021 as an entire, Apple led the best way with 44% of the whole smartphone income worldwide and pocketed $196 billion in iPhone income final yr. With the excessive demand for 5G-enabled units such because the iPhone 12 and 13, the Cupertino-based tech large’s ASP grew by 14% to succeed in $825 final yr. Its market share in key rising markets corresponding to India, Thailand, Vietnam, and Brazil elevated as effectively.

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Subsequent comes Samsung, which rolled out a number of new units final yr. Its income from smartphones grew by 11% yearly to clock $72 billion in 2021. Equally, its ASP grew to $263, and its international market share within the mid and premium segments elevated.

Coming to Xiaomi, its income clocked a year-over-year enhance of 49% to come back at $36 billion final yr. This was primarily due to the rise in shipments and market share for mid and premium section smartphones. Its smartphones in India that had been priced at $250 and above grew by 39% yearly to account for greater than 14% of Xiaomi’s market in India.

OPPO, which comes fourth, noticed an increase in shipments in smartphones within the $400-$599 and $600-$799 value bands, for which you’ll thank the excessive calls for for the Reno 6 sequence, Discover X3, and OnePlus 9 sequence smartphones, Its ASP grew by 15% to succeed in $259, whereas its income rose by 47% yearly to $37 billion. Its market share in China, Japan, and components of Europe rose, whereas income from OnePlus elevated by 33% final yr.

Final however not least comes Vivo, whose ASP grew by 19% to $259 final yr. It pocketed $34 billion in income over the yr, a rise of 43%. Different smartphone producers generated $73 billion in income in 2021.