According to the CPR data smartphone manufacturing companies earned almost a sum of 448 Billion U.S. dollars in revenue just in 2021. This is an increase of seven percent from last year. The average price of a mobile phone went up to twelve percent, reaching almost 322 U.S dollars, especially because of demand created by 5G. 5G Mobile phones have a higher average selling price than their predecessor. Also, Apple has launched its brand new iPhone 13, which claimed major success in the market.
Another contribution to the increase was done with the help of OEMs, which includes brands like Vivo, Realme, and Xiaomi. These companies played a great role in providing affordable mobile phones equipped with 5G in their targeted areas such as South Asia or Eastern Europe.
The demand increase was created due to the epidemic, in which people used phones for education, work, and even for entertainment purposes. From basic needs to having better performing processor mobile phones to have an overall better experience, such demands created a shortage for products used in manufacturing smartphones which led to an increase in the selling price.
According to the reports, almost forty percent of the phones exported in 2021 were equipped with 5G, as compared to last year which was only eighteen percent. The manufacturers increased the retail price for the entry or mid-tier phones.
Speaking of revenue, the smartphone industry’s king; iPhone, stays on the top of the chain with the lion’s share of thirty-five percent increase from last year, which is almost 196 billion U.S dollars. Apple’s new iPhone 12 and 13 contributed largely to the cause. Samsung came second, with an almost eleven percent increase since last year, that is 72 billion U.S. dollars. The average selling price for Samsung mobile increased to 264 U.S dollars, especially because of the revived foldable phones which helped Samsung come second.
Xiaomi also saw an increase by almost forty-nine percent, reaching 36 billion U.S. dollars. Meanwhile OPPO joined hands with 1Plus to cut down its cost of production.
Read next: Study shows that for the 7th time in a row, Apple has proved to be the most relevant brand for consumers
Another contribution to the increase was done with the help of OEMs, which includes brands like Vivo, Realme, and Xiaomi. These companies played a great role in providing affordable mobile phones equipped with 5G in their targeted areas such as South Asia or Eastern Europe.
The demand increase was created due to the epidemic, in which people used phones for education, work, and even for entertainment purposes. From basic needs to having better performing processor mobile phones to have an overall better experience, such demands created a shortage for products used in manufacturing smartphones which led to an increase in the selling price.
According to the reports, almost forty percent of the phones exported in 2021 were equipped with 5G, as compared to last year which was only eighteen percent. The manufacturers increased the retail price for the entry or mid-tier phones.
Speaking of revenue, the smartphone industry’s king; iPhone, stays on the top of the chain with the lion’s share of thirty-five percent increase from last year, which is almost 196 billion U.S dollars. Apple’s new iPhone 12 and 13 contributed largely to the cause. Samsung came second, with an almost eleven percent increase since last year, that is 72 billion U.S. dollars. The average selling price for Samsung mobile increased to 264 U.S dollars, especially because of the revived foldable phones which helped Samsung come second.
Xiaomi also saw an increase by almost forty-nine percent, reaching 36 billion U.S. dollars. Meanwhile OPPO joined hands with 1Plus to cut down its cost of production.
Read next: Study shows that for the 7th time in a row, Apple has proved to be the most relevant brand for consumers