A brand new report by Counterpoint Analysis says that world smartphone market revenues declined by 2% to somewhat beneath US$410 billion in 2023 in contrast with a 4% decline in shipments to 1.17 billion items.
That is because of a 2% development in world smartphone ASPs [average selling price] which touched $350 for the primary time. Apple led the market with a 50% share of world smartphone revenues, its highest-ever for a full yr. This contributed to the continued premiumization pattern with one in each 4 smartphones shipped in 2023 wholesaling for greater than $600.
Consequently, whereas the non-premium segments skilled double-digit declines, premium smartphone shipments grew by 8% pushed by foldables, options like GenAI, and, in fact, Apple, in accordance with Counterpoint.
Commenting on Apple’s efficiency in 2023, Analysis Director Jeff Fieldhack famous: “Apple displaced Samsung as the largest participant in shipments for the primary time in a full yr. Whereas the US made the largest quantity contribution to Apple’s development, it additionally obtained a significant enhance by way of double digit development in rising markets together with India, Caribbean and Latin America (CALA) and Center East and Africa (MEA). This development offset any challenges Apple could have confronted in China as a result of resurgence of Huawei. With an accompanying ASP development of two%, it may be seen to be in a income tremendous cycle, buoyed by its ecosystem stickiness coupled with the premiumization pattern, crossing an annual income of $200 billion.”
Elaborating on Apple’s efficiency in China, Counterpoint Senior Analyst Ivan Lam stated, “The constructive rising market offset is a welcome information, however China stays a slight concern. The market’s recovering however Apple is going through competitors from a resurgent Huawei within the premium phase and a number of China OEMs digging into iPhone 13 and 14 volumes. We’ll see whether or not Apple will get aggressive on pricing over the vital weeks earlier than Chinese language New 12 months and the way this correlates to quantity will increase.”
