Apple’s iPhone 14 Pro drives 10% yoy revenue growth and 7% yoy ASP growth in Q3

The move from 4G to 5G smartphones has been led by Apple’s iPhone, which alone accounts for more than half of all 5G revenue, according to Counterpoint Research. Apple posted 10% YoY revenue growth and 7% YoY ASP growth in Q3 2022, contributing to an overall increase in the global retail price of mobile phones, thanks to strong demand for the iPhone 14 Pro and flagship iPhone 14 Pro Max, which Apple worked to differentiate from the entry-level iPhones over previous generations.

iPhone 14 pro max
Apple’s flagship iPhone 14 Pro Max

Commenting on the 5G effect on ASP growth, Counterpoint Senior Analyst Harmeet Singh Walia said in a statement: “At over US$80 billion, the revenue contribution of 5G handsets reached an all-time high of 80% of global handset sales , versus 69%. in the third quarter of last year. Over the same period, the revenue contribution from LTE handsets fell 10% to $19 billion… Apple reported 10% YoY revenue growth and 7% YoY ASP growth in the third quarter of 2022, leading to an overall increase in the contributed to the worldwide ASP of mobile phones. This is partly thanks to the launch of the iPhone 14 series, as well as the Pro models, especially the previous generation, which are doing well.”

Apple's iPhone 14 Pro/Max delivers 10% YoY revenue growth and 7% YoY ASP growth in Q3
Apple’s iPhone 14 Pro/Max delivers 10% YoY revenue growth and 7% YoY ASP growth in Q3

Global smartphone market revenue fell 3% year-on-year to just over $100 billion in the third quarter of 2022, according to the latest research from Counterpoint’s Market Monitor Service. Average selling price (ASP) grew 10% year-on-year thanks to the premium handset segment’s greater resilience to economic uncertainty. The record contribution (46%) from 5G handsets, costing five times the average non-5G handset, also contributed to ASP and revenue growth. In terms of shipments, the overall mobile phone market saw a 12% year-over-year decline in the quarter.

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MacDaily News Take: Even before the iPhone 14 lineup was unveiled, we predicted strong demand for the Pro models and a stronger iPhone ASP compared to previous years as Apple was rumored to make the 14 Pro/Max stand out better from the base models.

Apple should have done this sooner, but it’s good to see additional differentiation between entry-level and “Pro” iPhones, which will naturally lead more buyers to iPhone Pro models and increase Apple’s iPhone ASP. The expected removal of the inelegant kludge (notch) in favor of a more sophisticated pill and punch design exclusive to the iPhone 14 Pro and iPhone 14 Pro Max will also help differentiate the Pro models from the non-Pro iPhones later this year in the mix towards high-end iPhones. – MacDaily News, July 6, 2022

The Apple iPhone Mix is ​​sure to be the strongest ever. Don’t be surprised by the reports that Apple has “cut orders for the iPhone 14,” meaning iPhone 14 and iPhone 14 Plus. The company is likely to increase orders for the iPhone 14 Pro and iPhone 14 Pro Max to reflect the strong mix, which of course bodes well for Apple’s average selling price (ASP) for the iPhone. – MacDaily News, September 14, 2022

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