December 27, 2022
1 min read

Global handset revenue falls

In terms of shipments, the overall handset market saw a 12 per cent YoY decline during the quarter…reports Asian Lite News

The global smartphone handset market’s revenue declined 3 per cent (on-year) in Q3 2022 to just above $100 billion, according to latest research.

A steeper revenue decline was prevented by a 10 per cent YoY revenue growth of Apple. Consequently, the 5G revenue share reached an all-time high of 80 per cent, according to Counterpoint Research.

The record shipment contribution (46 per cent) 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 per cent 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 per cent 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 per cent 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 per cent 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 per cent 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 per cent YoY, a significant portion of which came from the low-to-mid price bands.

ALSO READ: ‘Our objective is to hold G20 meetings in physical format’

Previous Story

In 2023, G-20 put on course to deliver inclusive growth

Next Story

Global smart home devices market to shrink 2.6% in 2022

Latest from Business

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

Canada to lift counter-tariffs on US goods

Canadian Prime Minister Mark Carney has announced that Ottawa will remove its counter-tariffs on US goods covered under the Canada-US-Mexico Agreement (CUSMA), beginning 1 September. The move marks a partial easing of

PM Modi: India poised to lead next tech wave

PM Modi underscored that the country is poised to lead the next wave of digital transformation in 5G…reports Asian Lite News Prime Minister Narendra Modi on Wednesday hailed India’s progress in expanding

India Hits 100GW Solar

The expansion is not only in scale but also in quality, with significant capacity dedicated to high-efficiency modules. Many manufacturers have adopted vertically integrated operations, enhancing quality, reducing costs, and improving resilience
Go toTop

Don't Miss

India’s vehicle retail sales decline

Lack of supply due to semiconductor shortages as well as

Star Launches UAE’s First Naturally Sweetened Fruit Drink

Star introduces a range of fruit drinks with Stevia, a