Global smartphone market revenue declined by 2%, iPhone achieved record 50% share

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New Delhi. Global smartphone market revenue declined 2 percent to slightly less than $410 billion in 2023, while shipments declined 4 percent to 1.17 billion units.

This was mainly due to a 2 percent increase in the global smartphone average selling price (ASP), which reached $350 for the first time.

According to Counterpoint Research, Apple leads the market with 50 percent share of global smartphone revenues, its highest share ever in a year.

As a result, while the non-premium segment saw a double-digit decline, premium smartphone shipments grew by 8 percent due to features like foldables, GenAI and of course Apple.

Research director Jeff Fieldhawk said, ‘Apple overtook Samsung as the largest player in shipments for the first time in a full year. While the US contributed the largest share to Apple’s growth, it also got a big boost through double-digit growth in emerging markets including India, the Caribbean and Latin America (CALS) and the Middle East and Africa (MEA).’

Samsung, long the market leader in shipments, suffered setbacks on multiple fronts, ceding some share in premium markets to Apple.

Its mid-tier also faced increasing competition from Chinese OEMs including Xiaomi and Vivo in markets like India.

Overall, global smartphone ASPs are also likely to continue their upward journey with vendors, carriers, and retailers giving priority to selling high-end models.

“On the demand side, supported by better financing options, consumers have also shown willingness to spend more for devices with longer shelf life,” the report said. Huawei’s resurgence in China is also likely to contribute to ASP growth.

–IANS

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