Apple saw iPhone revenue rise 10% during the third quarter, while the average selling price rose 7%.
According to the recipe, Apple remained at the top of the charts in the third quarter of 2022, accounting for 42% of global smartphone revenue from July to September. This is up from the 37.1% of global smartphone revenue Apple was responsible for during the same quarter last year. During the three months, Apple launched iPhone 14, iPhone 14 Pro and the iPhone 14 Pro Max. The iPhone 14 Plus, with the same screen size as the iPhone 14 Pro Max (6.7 inches), was only released in the first week of October.
Apple accounted for 42% of global smartphone revenue during the third quarter
Apple’s third-quarter revenue rose 10% year-over-year, while its average selling price increased 7% year-over-year during the third quarter of 2022. Counterpoint noted that a positive force in third-quarter revenue , sales of the iPhone 14 Pro and iPhone 14 Pro Max are off to a strong start compared to the previous year’s Pro models.
During the third trimester, Samsung accounted for 18.3% of global smartphone revenue, a slight decline from the 18.5% the manufacturer was responsible for in 2021. Its ASP increased by just 2%, even as shipments of its expensive foldables Galaxy Z Fold and Galaxy Z Flip almost folded. Samsung’s revenue during the quarter decreased by 4% compared to the third quarter of 2021.
Xiaomi was the third to contribute 8.3% of the total amount of revenue generated by the global smartphone market in the third quarter. That’s up from the 7.8% share it had in the same quarter last year. Thanks to strong sales in low- to mid-range markets, the company’s global handset sales increased 4% year-on-year.
However, Xiaomi reported a nearly 1.5% drop in revenue from sales of smartphones costing more than $300. This year, Xiaomi has focused on phones in the $200 to $200 price range. 299 instead of the sub-$200 market. As a result, its ASP increased 14% year over year to $205.
Oppo and Vivo saw their third quarters negatively impacted by the resurgence of COVID in China
Oppo, including OnePlus (as of Q3 2021), accounted for just 6% of global smartphone revenue during Q3 2022, down from the 8.1% share of global smartphone revenue it was responsible for during the third quarter of 2021. Oppo’s phone revenue fell sharply by 27% from July to September compared to the same three months last year. Its average selling price dropped 5%. The problem with Oppo was the COVID resurgence in China, where 40% of Oppo’s total phone shipments ended during the quarter.
Vivo saw an even bigger decline than Oppo as it accounted for just 5% of global smartphone revenue during the third quarter, compared to the 8.5% share of revenue it contributed during the same quarter in 2021. by half of its shipments destined for China, the COVID outbreak helped Vivo’s third-quarter revenue decline 43% year over year. On a sequential basis, Oppo’s global revenue in the third quarter of 2022 increased by 4% compared to the revenue reported in the second quarter of 2022.
The ‘Others’ group contributed 20.4% of global smartphone revenue during the third quarter of this year. That changed very little from the 20.1% of global smartphone revenues this group accounted for during the third quarter of 2021.
Harmeet Singh Walia, Senior Analyst at Counterpoint, said: “At over $80 billion, 5G handsets’ revenue contribution has reached an all-time high of 80% of global handsets revenues, up from 69% in Q3 2018. ‘Last year. During the same period, the revenue contribution of LTE phones fell 10% to $19 billion. This shift from 4G to 5G has been led by Apple, which alone accounts for more than half of all 5G revenues, as more than 95% of its phones are 5G-enabled.
