Global wholesale smartphone price to reach $310 in 2021
The global wholesale smartphone price is expected to jump to $310 in 2021, up 11 percent year-on-year from $279 in 2020, according to Strategy Analytics. This will be the highest price in the smartphone industry since 2013.
According to the latest research from market research firm Strategy Analytics, global smartphone wholesale revenue is expected to grow more than 21 per cent YoY to reach its highest-ever value at $435 billion in 2021.
Abhilash Kumar, Analyst at Strategy Analytics, said, “We forecast global smartphone wholesale price to grow +11 percent YoY at $310 in 2021, up from $279 in 2020. Global smartphone wholesale revenue is expected to grow +21 percent YoY to reach its highest ever value at $435 billion in 2021.”
This is driven by smartphone sales volume that will rebound at +9 percent YoY, he noted, and the higher average price point.
“This is the first time that average global wholesale price crossed the $300 mark over the past nine years. The price increase is driven by tech migration towards 5G smartphones, supply constraints due to component shortage which is leading to price hikes and new hardware innovations like foldable/flip form factor by Samsung,” Kumar said.
In addition, the price increase is driven by tech migration towards 5G smartphones, supply constraints due to component shortage which is leading to price hikes and new hardware innovations like foldable/flip form factor by Samsung.
Smartphones in the “$600 and above” price tier are behind the market growth, which is driven by the solid sales of the iPhone 12 series, enriched foldable line up from Samsung, and sales of other premium devices from Chinese vendors like the OnePlus.
9 series, Xiaomi 11 series, OPPO Reno series, Vivo X series, etc,” informed Linda Sui, Senior Director at Strategy Analytics. “We expect the newly-launched iPhone 13 series will add to the above-mentioned factors during the fourth quarter of 2021,” Sui added.
Linda Sui, Senior Director at Strategy Analytics, added: “Smartphones in the “$600 and above” price tier spurred market growth. This is driven by the solid sales of the iPhone 12 series, enriched foldable line up from Samsung, and sales of other premium devices from Chinese vendors like the OnePlus 9 series, Xiaomi 11 series, OPPO Reno series, Vivo X series, etc. We expect the newly launched iPhone 13 series will add to the above-mentioned factors during the fourth quarter of 2021. We forecast “$600 and above” price tier will grow +34% YoY by volume and +48 percent YoY by revenue, significantly outperforming the overall market and other price bands.”