The latest statistical report from Counterpoint Research revealed that Apple had become a significant market leader in the Q3 2022 smartphone sales, with revenue, shipments, and other metrics rising for the company.
It was followed by Samsung by a grand margin, and Xiaomi, Oppo, and Vivo were in the next places. The research report also stated that most OEMs had seen growth sharply due to their 5G handsets, as the latest connectivity is picking up everywhere around the world.
Apple’s Commanding Market Share
Ever since the pandemic struck, Apple surpassed Samsung to become the No.1 smartphone marker in most quarters. And now, as per the latest data from Counterpoint Research, Apple is holding its top spot with a significant market share for Q3 2022.
The Cupertino-based company has over 42% market share in Q3 2022 – mostly driven by its iPhone 14 Series, which was launched in September. As Counterpoint noted, the revenue from smartphone sales worldwide tumbled 3% year-over-year for Apple, but a 10% hike in the average selling price (ASP) has been recorded.
Well, this is due to Apple chipping in the 5G chip in its latest iPhone 14 series, which triggered 46% of the total shipments to be them. Also, Counterpoint said that 5 G-enabled phones are now five times the cost of non-5G phones. This led to Apple’s Q3 revenue rising 10% on an annual basis, while its average selling price rose 7% year-over-year during Q3 2022.
This was followed by Samsung with over 18.3% global smartphone share, a tiny fall from the last year’s 18.5% share. The next place is captured by Xiaomi with an 8.3% market share – up from 7.8% in last year’s same period. This was fuelled by the company’s focus on mid-range smartphones over $300, which helped the company’s global handset sales to rise 4% year-over-year.
Finally, the 4th and 5th spots were taken by Oppo and Vivo, which saw their revenues negatively impacted due to China lockdowns and COVID policies. Yet, they hold a fair share and see a large scope with respective foldables and other premium phones coming early next year.