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Last updated: May 8th, 2023 at 12:29 UTC+02:00
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According to a new report from Counterpoint Research, the launch of the Galaxy S23 series helped Samsung in improving its ASP (Average Selling Price) to $340 in Q1 2023. This is a 17% improvement compared to last year and a 35% improvement compared to Q4 2022. The company had a 22% market share in terms of shipments, 1% point lower than Apple during the same quarter. Xiaomi had an 11% market share globally in terms of smartphone shipments, standing at the third position. OPPO stood fourth with a 10% share of the shipments and Vivo with a 7% market share.
When it comes to profits, though, Apple and Samsung gobble up almost 96% of all profits in the global smartphone industry. Of that, Apple has control over 72% of profits, while Samsung has a 24% share of the profits. This leaves all other Android smartphone brands with just a 4% share of the profits collectively.
Apple generates half of the revenue in the smartphone market due to a much higher ASP compared to any other smartphone brand. Even though OPPO (OnePlus and Realme included), Vivo, and Xiaomi have lately increased the prices of their phones, they are nowhere to be seen in terms of revenue or profits compared to Apple and Samsung. It means that none of the Chinese brands are selling high-end devices in enough volume.
Asif is a computer engineer turned technology journalist. He has been using Samsung phones since 2004, and his current smartphone is the Galaxy S21 Ultra. He loves headphones, mechanical keyboards, and PC hardware. When not writing about technology, he likes watching crime and science fiction movies and TV shows.
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