The global smartphone handset market’s revenue declined 3 percent (on-year) in Q3 2022 to just above $100 billion, according to the latest research.
A steeper revenue decline was prevented by a 10 percent YoY revenue growth of Apple. Consequently, the 5G revenue share reached an all-time high of 80 percent, according to Counterpoint Research.
The record shipment contribution (46 percent) of 5G handsets, which cost five times an average non-5G handset, also added to the average selling price (ASP) and revenue growth.
In terms of shipments, the overall handset market saw a 12 percent YoY decline during the quarter.
“At over $80 billion, the revenue contribution of 5G handsets reached an all-time high of 80 per cent of global handset revenues, up from 69 percent in the third quarter of last year,” said senior analyst Harmeet Singh Walia.
In the same period, LTE handsets’ revenue contribution fell 10 per cent to $19 billion.
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 percent of its phones are 5G-enabled,” said Walia.
Samsung, the second biggest handset OEM in terms of revenue, saw a relatively modest ASP increase of 2 percent YoY in Q3 2022 despite an almost doubling of the shipments of its premium Flip and Fold series in the same period as well as a 27 percent YoY revenue growth of its 5G smartphones.
With China being the single biggest market for OPPO and Vivo, the ongoing Covid-19 and economic issues in the country resulted in a significant revenue decline YoY.
Xiaomi’s handset revenue grew 4 percent YoY, a significant portion of which came from the low-to-mid price bands.
