Last year, the global smartphone market rebounded, and smartphone sales showed a 5% growth compared to the previous year. Samsung Electronics also increased its smartphone revenue by 2% thanks to a rise in the average selling price (ASP), despite a decrease in shipments.
According to market research firm Counterpoint Research on the 7th, global smartphone sales and ASP increased by 5% and 1%, respectively, in 2023. ASP reached $356, marking the highest level on an annual basis, and global smartphone shipments also saw a 4% increase, breaking free from a two-year slump.
Counterpoint analyzed that the growth factors include ▲ macroeconomic recovery ▲ improved consumer sentiment ▲ expanded 5G adoption ▲ enhanced camera performance ▲ and processor upgrades.
Siphi Jain, a principal researcher at Counterpoint, noted, "Manufacturers focused on premium devices, leading to the highest ASP on record," and forecasted that smartphone shipments would show single-digit growth this year.
Samsung Electronics maintained its position as the global leader despite a slight decrease in shipments last year. In particular, the success of the Galaxy S24 led to a rise in ASP, resulting in a 2% increase in sales compared to the previous year. Apple saw a 3% decrease in shipments but was largely unaffected in sales as ASP surpassed $900.
The company that recorded the fastest revenue growth among the top five manufacturers was Vivo, growing by 20% compared to the previous year. Vivo expanded its market by ranking first in shipments in China and India. Xiaomi recorded the highest growth rate among the top companies, with a 16% increase in shipments.