The global smartphone applications processor (AP) market posted a double-digit shipment and revenue growth in Q1 2021, according to Strategy Analytics report.

The smartphone AP market grew 21 percent to $6.8 billion in Q1 2021. The report did not reveal the number of shipments.

Global smartphone shipments were 340 million units in Q1 2021, registering +24 percent representing the highest growth since 2015. The smartphone market rebound was driven by the healthy demand of consumers with aging devices and a phenomenal 5G push from Chinese vendors.

Qualcomm, MediaTek, Apple, Samsung LSI and HiSilicon captured the top-five revenue share rankings in the smartphone applications processor (AP) market in Q1 2021, the report said.

Qualcomm led the smartphone AP market with a 40 percent revenue share.

MediaTek has 26 percent share in the smartphone AP market.

Apple has 20 percent share in the smartphone AP market.

5G APs accounted for 41 percent of total smartphone APs shipped in Q1 2021. Entry-level 5G APs such as Snapdragon 480 and Dimensity 700 will help smartphone manufacturers bring 5G to lower price tiers in 2021.

The trade war reshaped the global smartphone AP market in Q1 2021.

Both Qualcomm and MediaTek achieved double-digit shipment growth in Q1 2021 and gained market share with their 4G and 5G APs. Qualcomm and MediaTek achieved due to the forced exit of HiSilicon from the smartphone AP market due to trade restrictions.

Huawei-owned HiSilicon’s smartphone AP shipments declined 88 percent in Q1 2021.

Apple, Samsung LSI and Unisoc also saw shipment and revenue growth in Q1 2021.

The growth momentum will continue through 2021, driven by an increased mix of 5G-attached APs and post-pandemic demand.

Smartphone AP vendors need to maintain healthy average selling prices (ASPs) and optimize their cost structure in light of increasing chip development costs and foundry capacity constraints, Sravan Kundojjala, Associate Directorof Handset Component Technologies service at Strategy Analytics, said.