The hike is witnessed due to the 5G smartphones. The average selling price (ASP) has gone up to12% YoY and reached $322. With 4G models the ASP was significantly lesser than the 5G models. Another boost reason was the launch of Apple iPhone 13 series. Furthermore, the launch of affordable 5G devices that were released in 2021 by the other companies like Xiaomi, Vivo, OPPO and Realme aided the hike. Thee companies have fulfilled the demand of the emerging 5G markets like India, Southeast Asia, LATAM and Eastern Europe. The 5G-enabled smartphones have contributed to more than 40% of the global smartphone shipments in 2021 as compared to 18% in 2020. With the prevailing COVID-19 Crisis has forced all the organizations to support work from home has also increased the global demand for mid-range and premium smartphones. With the global shortage of components of smartphones has also led the major OEMs to increase the retail prices of some of their entry and mid-range smartphones. Here is a list of how the different companies have increased their revenues YoY:
Apple’s iPhone revenue has increased by 35% YoY to $196 billion in 2021. Samsung’s smartphone revenue increased 11% YoY to reach $72 billion in 2021, compared to $64 billion in 2020. Xiaomi’s revenue increased 49% YoY to reach $36 billion in 2021, mainly due to the increase in shipments and market share for its mid and premium segment smartphones such as the Mi 11x series. OPPO (OPPO includes OnePlus since Q3 2021) revenue increased by 47% YoY to $37 billion. Vivo’s revenue increased by 43% YoY to $34 billion.
The Vivo brand is ranked as the fifth-largest smartphone vendor in 2021 both in terms of revenue and shipments. Also Read:
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