World Smartphone Market Revenues Reached New Heights In 2021

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New analysis by Counterpoint has uncovered some key insights concerning the income generated by the worldwide smartphone market in 2021. As per the report, revenues surpassed $448 billion final 12 months.

Counterpoint says the worldwide smartphone market grew by 7% in 2021 in comparison with the earlier 12 months, regardless of challenges on a number of fronts – COVID-19 and the worldwide chip disaster that affected quite a few industries.

In the meantime, the Common Promoting Worth or ASP of smartphones was up 12% YoY in 2021 to succeed in $322. That is because of the rise of 5G telephones, with manufacturers like OPPO, vivo, realme, and Xiaomi launching a number of units concentrating on markets like Southeast Asia, India, Latin America, and Jap Europe.

In 2021, 5G smartphones made up over 40% of the worldwide smartphone shipments, up from 18% in 2020. The determine might go up considerably in 2022, given that just about each new smartphone options 5G help by default. Counterpoint mentioned the worldwide chip scarcity has additionally pushed producers to extend the costs for mid-range and flagship units.

Samsung loved a good 2021 because of its mid-range and high-end lineup, together with foldables

2021 was fairly profitable for Samsung regardless of the innumerable challenges it confronted. Its ASP rose 5% to $263 in 2021. In the meantime, the corporate’s smartphone income shot as much as $72 billion in 2021, signifying an 11% YoY improve in comparison with 2020. One other fascinating notice right here is that Samsung managed to ship 3x extra foldables in 2021 than it did the 12 months earlier than. So it’s clear that foldables are right here to remain.

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The figures from OPPO and OnePlus are mixed, returning a 47% YoY income development to succeed in $37 billion. Units just like the Reno 6 collection, Discover X3, and OnePlus 9 contributed to a rise within the shipments of units within the $400-$599 and $600-$799 worth ranges.

Fellow Chinese language OEM Xiaomi witnessed a 49% YoY income improve in 2021 ($36 billion). India continues to be one in all Xiaomi’s largest markets, with the area contributing to a rise in shipments of high-end and mid-tier telephones. Vivo’s ASP shot up by 19% YoY in 2021 to the touch $259, whereas the producer’s income went up by 43% to succeed in $34 billion.

A Canalys report final month steered that worldwide smartphone shipments reached pre-pandemic ranges in 2021. Separate analysis by IDC reached an analogous conclusion. Round 1.35 billion smartphones had been shipped throughout the globe final 12 months, a 7% YoY improve in shipments, as per Canalys.