Apple led the global smartphone market in revenue terms in quarter one of 2022 with revenue of over US$50 billion, according to Counterpoint Research.
The top five smartphone brands contributed more than 80% of the total revenue. Global smartphone market revenue surpassed $110 billion in quarter one (Q1) of 2022, according to Counterpoint’s Market Monitorservice. It declined 2% year-over-year from the peak Q1 smartphone revenue of over $114 billion in 2021. In quarter-over-quarter terms, the revenue saw a cyclical decline of 17% from an all-time high of over $134 billion in Q4 2021.
Apple’s iPhone revenue grew 5% year-over-year in Q1 2022 to cross $50 billion, a first-quarter record thanks to the brand’s double-digit growth in China and Western Europe, despite a marginal annual shipment decline. Apple’s 5G shipments and revenues in China more than doubled from their Q1 2021 levels.
A 20% year-over-year increase in Apple’s global 5G shipments driven by the iPhone 13 series raised its overall average selling price by 6% to $848. What’s more, the new iPhone SE, which now comes with 5G, also added to Apple’s 5G growth, adds Counterpoint.
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