Smartphone revenue and profit trends in Q2 2022

Global smartphone revenue declined for a second consecutive quarter this year, falling 2 percent (year-on-year) and 15 percent (on-quarter) to $95.8 billion in the June quarter, according to Counterpoint Research.
smartphone revenue and profit in Q2 2022
A fall in global handset shipments due to factors including Chinese lockdowns and ongoing geopolitical uncertainty caused the revenues to decline despite the average selling price (ASP) going up by 6 percent in the same period.

Apple was at the top smartphone brand in terms of revenue, with the iPhone garnering 80 percent of all the profit in the industry.

Compared with the previous quarter, smartphone operating profits declined 29 percent after declining 26 percent QoQ in Q1 2021, said senior analyst Harmeet Singh Walia.

Apple’s smartphone revenues grew 3 percent year-over-year despite, shipping 46.5 million iPhones in the quarter.

Revenue growth in the second half of the year, when compared to the first half, is a near certainty due to the cyclical launch of the highly profitable and relatively economic downturn-resistant iPhone, said associate director Jan Stryjak.