NEW DELHI: The global smartphone handset market’s revenue declined by 3 per cent year-on-year (YoY) to just above USD 100 billion in the third quarter of 2022, according to the latest research from Counterpoint’s Market Monitor Service.
The research also noted that the revenue contribution of 5G handsets reached an all-time high of 80 per cent of global handset revenues, up from 69 per cent in the third quarter of last year.
A 10 per cent YoY growth was seen in average selling price (ASP), thanks to the premium handset segment’s greater resilience to economic uncertainty. The record shipment contribution (46 per cent) of 5G handsets, which cost five times an average non-5G handset, also added to the ASP and revenue growth. In terms of shipments, the overall handset market saw a 12 per cent YoY decline during the quarter.
“At over USD 80 billion, the revenue contribution of 5G handsets reached an all-time high of 80 per cent of global handset revenues, up from 69 per cent in the third quarter of last year. In the same period, LTE handsets’ revenue contribution fell 10 per cent to USD 19 billion,” said senior analyst Harmeet Singh Walia.
He added that this shift from 4G to 5G has been led by Apple, which alone makes up for over half of all 5G revenues as over 95 per cent of its phones are 5G-enabled. Apple saw a 10 per cent YoY revenue growth. “This is thanks in part to the launch of the iPhone 14 series as well as the Pro models, especially from the previous generation, doing well,” said Walia.