The ASP (average selling price) of Samsung’s smartphones improved in the first quarter of 2020, reaching the highest in the past six years. This improvement is due to the robust demand for high-end devices such as the Galaxy S20 Ultra, Galaxy Fold, and the Galaxy Z Flip.
According to a new report from Strategy Analytics, the South Korean smartphone giant’s ASP stool at $292 during Q1 2020 (January – March 2020). The average selling price saw an 8.5 percent jump from Q1 2019 and a 20.7 percent rise compared to Q4 2019. The company’s ASP is the highest since Q2 2014, when it was $297.
Samsung’s ASP for smartphones was $243 in 2017, $251 in 2018, and $247 in 2019. The company’s foldable smartphones—Galaxy Fold and Galaxy Z Flip—have contributed to the increased average selling price. The South Korean smartphone giant is planning to launch even more foldable smartphones, including the Galaxy Fold 2, later this year.
In terms of revenue, Samsung’s share of the global smartphone market rose to 22.1 percent in Q1 2020, up from 21.7 percent in Q1 2019 and 14.4 percent higher compared to Q4 2019. In comparison, Apple’s global smartphone revenue market share was the highest in the industry, at 37.5 percent.
Samsung is also reportedly planning to launch a cheaper version of the Galaxy Fold. However, even at its rumored price tag of under $1,100, it would still end up being a high-end phone, and that would help move the company’s smartphone ASP even higher.