The global smartphone market revenue grew 7 percent to $448 billion in 2021 despite shortage of component and supply chain disruptions due to Covid-19 restrictions.
Smartphone average selling price (ASP) increased 12 percent to $322, mainly due to a higher share of 5G smartphones, as well as Apple’s launch of its iPhone 13 devices, according to Counterpoint.

China-based phone makers such as Xiaomi, Vivo, OPPO and Realme focused on bringing affordable 5G smartphones in emerging markets such as India, Southeast Asia, LATAM and Eastern Europe. As a result, 5G-enabled smartphones contributed more than 40 percent of the global smartphone shipments in 2021, compared to 18 percent in 2020.

There has been an increase in demand for mid-range and premium smartphones due to the pandemic-linked education, work and entertainment from home convincing some consumers to upgrade their devices for a better overall experience.

Shortage of smartphone components has also led major OEMs to increase the retail prices of some of their entry and mid-tier smartphones.

Apple’s iPhone revenue rose 35 percent to $196 billion in 2021. Apple’s iPhone business captured 44 percent of total global smartphone revenue in 2021. Apple registered 14 percent growth in its ASP to $825 in 2021 thanks to the demand for 5G-enabled iPhone 12 and 13 series. Apple has increased its share in key emerging markets such as India, Thailand, Vietnam and Brazil.

Samsung’s smartphone revenue increased 11 percent to $72 billion in 2021, compared to $64 billion in 2020. Samsung’s smartphone ASP grew 5 percent to $263 in 2021.