Samsung's home country is the world's most lucrative smartphone market

Well, a new report from market analysis firm TechInsights shows which countries have the highest smartphone ASPs (Average Selling Price). According to the new report, South Korea, home to Samsung, is the country with the world's highest smartphone ASP. It means South Korean consumers, on average, buy the costliest smartphones. Earlier, that market was Japan, but South Korea overtook it in 2020 and is expected to keep growing in the coming years.

South Korea, Japan, and the US, thanks to their higher smartphone ASP, are quite important for smartphone brands. However, mostly Apple and Samsung rule these markets. Samsung has been focusing on improving profitability through its smartphone division, launching more high-end phones, including the Galaxy Z series of foldable smartphones that start at $1,000 and go as high as $1,800.

Abhilash Kumar, Industry Analyst at TechInsights, said, “Japan was the country with the highest smartphone wholesale ASP through 2020. However, it yielded the leading position to South Korea in 2021. The solid and quick uptake of Samsung’s higher-priced foldable models, which now have different generations, as well as the healthy price growth by iPhone models in recent years, are the main reasons behind the soaring ASP in the country.“