A report reveals an increase in the average prices of smartphones globally

A report reveals an increase in the average prices of smartphones globally

reveal Latest report From the market research company Counterpoint Research on the average selling price of smartphones in each of the major global markets.

The main markets covered in the report include North America, Latin America, Europe, the Middle East and Africa, the Asia Pacific countries, and China. According to the report, the average selling price of phones increased in all markets except for Latin America.

smart phones

The highest increase in the average selling price was observed in China, where the average selling price of smartphones is now at $ 310. Meanwhile, North America saw a 7 percent increase in the median sales price year on year (compared to the same quarter last year) of $ 471. The North American phone market has the highest average selling price of any other market. Meanwhile, the report reflects a 5% year-on-year decline in the median sales price of $ 166.

The increase in price is attributed to the fact that even with global phone sales declining around the world, premium-priced smartphones still sell well, seeing a decrease of only 8 percent year-on-year. Noting that the overall global smartphone market is declining by 23 percent year on year. Sales of premium smartphones have not decreased due to increased reliance on them for entertainment, productivity and communications, which rose significantly during the lockdown during the COVID-19 pandemic. Demand for Apple’s iPhones has remained strong.

According to the report, the launch of phones supporting 5G networks contributed to the flexibility of the high-end phone sector. During the second quarter, 10 percent of global smartphone shipments were 5G-enabled devices, contributing 20 percent to total revenue.

Apple accounted for the majority of smartphone sales in the second quarter, with market revenue of 34 percent. Meanwhile, Huawei came second with 20 percent of revenues, followed by Samsung after 17 percent of global smartphone revenues in the same quarter. Vivo and Oppo accounted for approximately 7 percent and 6 percent of the revenues, respectively.

smart phones

It is noteworthy that this is the first time that Huawei – with its Honor brand – has outperformed Samsung in both shipments and revenues. This is even with the severe effects of the US ban on Huawei in markets outside of China.

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