Smartphone wholesale revenues will increase +13 percent in 2021 to more than US$400 billion, the highest revenue growth in six years, according to a report from Strategy Analytics.

The global smartphone market will bounce back in 2021, on the back of the iPhone 12 super cycle, and the migration to 5G globally.

Global smartphone wholesale revenues decreased 5 percent in 2020.

Smartphone sales volume will grow 7 percent at 1.4 billion units, and global smartphone wholesale average selling price (ASP) will grow 6 percent to $294 in 2021, resulting in smartphone wholesale revenue exceeding US$400 billion.

“We expect the ultra-premium segment (US$600 wholesale and above) to perform particularly well due to iPhone 12’s super cycle, and to contribute to almost half of the overall wholesale revenues this year,” Linda Sui, Senior Director at Strategy Analytics, said.

The four largest countries of China, US, India and Japan will account for 54 percent of all smartphone wholesale revenues worldwide in 2021.

“A downside risk remains in terms of volumes and value in India and Brazil which are suffering through significant surges in COVID-19 currently. However, in general we remain modestly optimistic about both replacement sales and new customers,” David Kerr, Senior VP at Strategy Analytics, said.