The profit of Counterpoint:Q2 's global mobile phone market increased by 6% compared with the same period last year, but only Samsung and Apple got the benefit.
CTOnews.com, September 29 (Xinhua)-- Global mobile phone revenue fell 2% year-on-year in the second quarter of 2022, down 15% from a month earlier to $95.8 billion, according to a new study released by Counterpoint. Global mobile operating profit rose 6 per cent year-on-year to $13.1 billion, with the top five handset makers accounting for about 80 per cent of total revenue.
The average price (ASP) rose 6 per cent over the same period, resulting in a 6 per cent year-on-year growth in operating profit, according to the report.
OPPO, vivo and Xiaomi all saw double-digit year-on-year declines in revenue, while Samsung and Apple grew 25 per cent and 3 per cent respectively.
Commenting on the overall market developments, senior analyst Harmeet Singh Walia said: "Global mobile phone revenue has declined under the pressure of falling shipments. But overall operating profit rose year-on-year in the second quarter as global brands such as Samsung and Apple led overall ASP growth, and even some Chinese brands, such as Xiaomi, Lenovo, Glory, Huawei and Voice Group, have been trying to shift to higher ASP devices over the past year. However, it is important to put this growth in context. While the upward shift in the price range of handset makers has led some of them to boost profit margins, with the exception of Xiaomi, annual growth has been largely constrained by the COVID-19 epidemic rather than continued growth in operating profits throughout the quarter. Operating profit fell 29% compared with the previous quarter, compared with a 26% quarter-on-quarter decline in the first quarter of 2021. "
▲ OPPO includes one plus from the third quarter of 2021
Given that mobile phone revenue and profits are mainly driven by Apple, analysts expect growth in both areas in the second half of the year, as can be seen from the difference in revenue and profit share in the chart above.
CTOnews.com has reported that, according to Counterpoint Research's forecast, Apple released the iPhone 14 series of phones earlier this month, with strong demand, and the ASP is expected to hit a record high of $892 in the September quarter and climb again to $944 in the December quarter.
Mobile accounts for 50% of Apple's total revenue, and Wall Street pays close attention to iPhone's ASP. In 2015, the average price of Apple's iPhone was only $690. when the new phone was released earlier this month, Apple did not raise the price, but the ASP still rose, which is particularly noteworthy.
The rise in ASP was mainly due to the popularity of the iPhone 14 Pro and Pro Max models. Evercore ISI surveyed about 4000 consumers and found that about 56 per cent of those interested in buying iPhone were prepared to choose Pro, up from 41 per cent last year. Evercore ISI expects Apple's iPhone's ASP to rise to $940 next year, 10% higher than in the iPhone 13 cycle.
