Despite supply chain shortages, the pandemic, and other issues that could have held back the smartphone industry in 2021, the global smartphone business generated $448 billion in revenue last year for a hike of 7% on an annual basis. The previous year, the top line collected by the industry amounted to $382 billion. Fourth-quarter 2021 revenue was up 20% from the third quarter’s top line.
Apple collected the most revenue in the smartphone industry last year
The top 5 smartphone brands globally were responsible for 85% of industry revenue last year
Oppo’s ASP rose 15% last year, and shipments rose in the $400-$599 and $600-$799 price segments thanks to the Reno 6 series, the Find X3, and OnePlus 9 series. 5G phones made up over 50% of its smartphones delivered last year compared with 28% the previous year. OnePlus revenue was up 33% in 2021 thanks to the OnePlus Nord line and the OnePlus 9.
Vivo’s ASP rose 19% last year and its smartphone shipments were helped by demand for the flagship X60 and S series. The company also performed well in China. Vivo also had a balanced portfolio that covered all price ranges from low-end to flagship.
40% of phones shipped last year were 5G compatible
While mid-range and flagship phones did well last year, budget handsets also saw their prices rise thanks to supply chain shortages and other issues. As the migration of 5G continues, more 5G compatible phones were shipped last year. Counterpoint says that 40% of phones shipped globally last year had support for 5G compared with the 18% of smartphones that were delivered in 2020.
For all of 2021, the average selling price of a smartphone was $322 as higher-priced 5G units took sales away from lower-priced 4G LTE models. The success of the high-priced iPhone 13 models also contributed to higher smartphone price tags on average.
