Friday, 24 March, 2023

Smartphone shipments grew 7% YoY despite component shortages and supply chain issues

<p>Global Smartphone revenue hit $448B in 2021 which is growth of 7% YoY and 20% QoQ, a recent report revealed. The average smartphone price increased by 12% to $322 which can be attributed to the component cost of 5G equipment. 5G enabled smartphones saw healthy growth as they contributed over 40% of the total shipments compared to just 18% in 2020. Another factor is the rise in demand for mid to high end smartphones due to increase in online education, work and entertainment.</p>