Global handset sales fell for the second quarter in a row this year, falling 2 percent (year-over-year) and 15 percent (quarter-on-quarter) to $95.8 billion in the June quarter, while revenue from mobile phones and profits were largely driven by Apple.
According to Counterpoint Research, a drop in global handset shipments due to factors such as Chinese lockdowns and ongoing geopolitical uncertainty led to a decline in revenue, despite the average selling price (ASP) rising 6 percent for the same period.
Apple came out on top, with the iPhone accounting for 80% of all industry profits. “With global brands such as Samsung and Apple leading overall ASP growth, and even some Chinese brands working to move to higher ASP devices last year, total operating profit increased year-on-year in the second quarter year,” said senior analyst Harmit. Singh Walia.
However, operating profit fell 29 percent quarter-on-quarter, following a 26 percent quarter-on-quarter decline in the first quarter of 2021, Walia added. Apple’s revenue rose 3 percent year-over-year despite shipping 46.5 million iPhones in the quarter.
“Revenue growth in the second half compared to the first half is almost certain due to the cyclical launch of the highly profitable and relatively recession-resistant iPhone,” said Deputy Director Ian Strijak.
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However, with geopolitical uncertainty worsening, inflation rising and fears of a recession rising, “the mobile market is bound to be impacted and may take longer to return to the pre-pandemic trajectory,” he noted.
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