CR: Total smartphone revenues in 2021 reached $448 billion, Apple leads the way
The latest Counterpoint Research report is taking a look at the revenues generated by smartphone makers for the past year. Smartphone vendors generated a total of $448 billion in revenues for 2021 which represents a 7% increase compared to the values for 2020. The average smartphone selling price (ASP) grew by 12% on the yearly basis and reached $322 thanks to a growing demand for 5G devices. An estimated 40% of all smartphones shipped in 2021 were 5G-capable which is an 18% rise compared to 2020 values.
Apple yet again sits atop the rankings with total revenues of $196 billion and a 44% share of all revenues in the smartphone market. Cupertino saw increased demand for its new iPhone 13 series as well as prolonged interest for the previous-gen iPhone 12 models. The ASP for iPhones in 2021 reached $821 which is an all-time high. Apple continued its rise in developing markets like India, Thailand, Vietnam and Brazil.
Coming in at a distant second place is Samsung with its $72 billion in revenues. The figure is an 11% increase compared to 2020’s $64 billion. Samsung phones’ ASP grew by 5% on the yearly basis reaching $263. The midrange and premium segments contributed to the largest growth for the South Korean tech giant with the flagship Galaxy S series and midrange Galaxy A and M models selling the most units. Samsung also managed to expand its foldable shipments threefold.
Xiaomi is the third leading brand with $37 billion in revenues which is a 49% increase compared to 2020 values. India served as Xiaomi’s key market where the brand reached new highs in the smartphones priced above INR 18,000 ($250) which accounted for 14% of the brand’s presence in the country.
Oppo saw $36 billion in revenues and a 15% increase in its phones’ ASP which now stands at $259. The brand’s Find X3, Reno 6 series and sister company OnePlus 9 series were the most sought-after devices. Over 50% of Oppo phones shipped in 2021 were 5G ready.
Fifth place belonged to fellow BBK subsidiary vivo which saw revenues of $34 billion. Its smartphone ASP also stood at $259 and it was also the fifth-largest brand in terms of global smartphone shipments for 2021.
