The smartphone battery revenue rose more than 10 percent to $8.7 billion in 2021, according to the Strategy Analytics Handset Component Technologies service report.
Amperex Technology (ATL) is the leader in the smartphone battery market with 42 percent share in 2021.
LG Energy Solutions, with 22 percent share, is the second leading supplier in the smartphone battery market.
Samsung SDI is in the third position in the smartphone battery market in 2021 with 18 percent share.
There was strong demand for high-capacity battery cells in mid and high-tier devices. Dual cell battery penetration exceeded 5 percent due to fast charging application.
“The rise in prices of major battery materials such as Lithium, contributed to an increase in smartphone battery cell cost. The decline in the production of smartphones due to supply shortages impacted the growth in battery cell shipments,” Jeffrey Mathews, Senior Analyst at Strategy Analytics, said in a news statement.