According to latest data by Counterpoint Research, the global smartphone handset market revenue has reduced by 3 per cent in the third quarter of 2022. The decline could have been steeper but was prevented by a 10 per cent year on year (YoY) growth registered by Apple.

Meanwhile, Samsung saw a relatively modest average selling price (ASP) increase in Q3 2022 despite the shipments of its premium Flip and Fold series seeing a two-time growth in the same period.

Further, China is the biggest market for OPPO and Vivo, which saw significant decline in revenue due to the ongoing Covid-19 and economic issues in the country. Xiaomi’s handset revenue on the other hand saw a 4 per cent YoY growth.

The data also said that the 5G handset revenue share reached an all time high of 80 per cent. The record shipment contribution of 46 per cent also added to the ASP and revenue growth for the handset market.