December 2, 2022
Counterpoint’s latest research has officially been released. Despite the fall in revenue, the global handset market still managed to secure 6% year-over-year profit growth.

According to a recent report, the second quarter of 2022 saw a decline in revenue in the global handset market, which stood at $95.8 billion. The reason behind this 2% fall is the geopolitical crisis and the imposition of a Chinese lockdown. These 2 factors affected the overall shipment. However, the mean selling price still observed a 6% rise during the same tenure.

Harmeet Singh Walia, a senior analyst, shared his views on the global market dynamics. According to Harmeet, big handset manufacturer companies such as Samsung and Apple, along with other China-based companies including Xiaomi, HONOR, Huawei, and several others, are playing an important role in maintaining the average selling price. Unlike the 26% operating profit fall observed in the first quarter of the previous year, a 29% fall has been reported in the first quarter of 2022.

While there is nothing to argue about how much of an impact Apple has on the global handset market, Counterpoint also supported this statement with graphical data showing a clear margin between Apple’s contribution in terms of revenue and profit as compared to other such brands. Based on this, it is also expected that the remaining two quarters of 2022 will witness more significant growth.

According to Jan Stryjak, Associate Director of Counterpoint, the chances of growth during the second half of the ongoing year in terms of revenue and profit are much greater. Jan backed up his statement by talking about the release of the latest iPhone 14. While the associate director is standing firm with this statement, factors such as global inflation crises and geopolitical tensions which can hinder overall shipment operations could take some extra time before all the figures get back to normal.

See also  China has witnessed an all-time low in mobile game sales following the latest restrictions

The third quarter has almost reached its end and just a couple of months later, Counterpoint will be back with the data on whether the second half did as good as it was expected or if it went totally off track.

Read next: Study shows Over stimulation caused by smartphones, while they promise the opposite