As consumers move from 4G to 5G, Apple grows its commanding share of global smartphone revenue
Apple saw its iPhone revenue increase 10% during the third quarter while its average selling price rose 7%
Apple was responsible for 42% of global smartphone revenue during the third quarter
Apple’s Q3 revenue rose 10% on an annual basis while its average selling price rose 7% year-over-year during the third quarter of 2022. Counterpoint noted that a positive force on Q3 revenues, sales of the iPhone 14 Pro and iPhone 14 Pro Max got off to a great start compared to the previous year’s Pro models.
Oppo and Vivo saw their third quarters negatively impacted by China’s COVID rebound
Oppo, including OnePlus (starting from Q3 2021), accounted for only 6% of global smartphone revenue during the third quarter of 2022, a decline from the 8.1% share of global smartphone revenue it was responsible for during Q3 of 2021. Oppo’s handset revenue declined a sharp 27% from July through September compared with the same three months last year. Its average selling price dropped by 5%. The issue with Oppo was the COVID rebound in China which was where 40% of Oppo’s total phone shipments wound up during the quarter.
Vivo had an even larger decline than Oppo as it accounted for only 5% of global smartphone revenue during Q3 compared with the 8.5% share of revenue it contributed during the same quarter in 2021. With over half of its shipments earmarked for China, the COVID outbreak helped Vivo’s third-quarter revenue drop a sharp 43% year-over-year. On a sequential basis, Oppo’s Q3 2022 global revenue rose 4% from the revenue reported for Q2 2022.
The “Others” group contributed 20.4% to global smartphone revenue during the third quarter of this year. That is very little changed compared to the 20.1% of global smartphone revenues that this group accounted for during the third quarter of 2021.