The global smartphone market recorded 13% year-on-year (YoY) revenue growth in Q4 2025, reaching $143 billion, the highest quarterly revenue on record, according to Counterpoint Research’s Market Monitor Service. Smartphone shipments grew 5% YoY, reflecting continued value-led growth as consumers shifted toward higher-priced devices.
Smartphone ASP rises in Q4 2025
During the quarter, the average selling price (ASP) increased 8% YoY, crossing the $400 mark for the first time. The increase was driven by premiumization, early flagship launches, and higher bill of materials (BOM) costs, including price increases linked to ongoing memory shortages.
Senior Analyst Shilpi Jain said the market ended 2025 with record revenue and ASP levels, noting that upgrades to higher-priced devices continued across both developed and emerging markets, supported by holiday demand, financing options, and trade-in offers.
She added that strong mid-tier demand, aided by promotions and improved purchasing power, helped sustain shipment growth despite supply chain constraints and elevated component costs.
Market trends and performance (Q4 2025)
- Apple strengthened its market leadership in Q4 2025, posting its highest-ever quarterly shipments and revenue, up 14% YoY and 23% YoY, respectively. Research Director Jeff Fieldhack attributed the growth to the iPhone 17 series and a higher share of Pro models, which lifted ASPs. Apple recorded revenue growth across the US, China, Latin America, Western Europe, the Middle East, and South Asia, setting new regional records.
- Samsung remained the second-largest revenue contributor, holding an 11% market share with 12% YoY revenue growth. Shipments rose 17% YoY, the highest among the top five brands, driven by the Galaxy A series, holiday promotions, and demand for Galaxy S25 and Z Fold7 devices. Growth from Latin America, Southeast Asia, MEA, and parts of Europe offset weaker performance in North America and India, though ASP declined 4% YoY.
- Xiaomi saw revenue decline 9% YoY and shipments fall 11% YoY, impacted by supply constraints and rising component costs, particularly in China and India. While ASP rose 3% YoY due to selective premium launches, it did not offset volume losses.
- OPPO recorded 23% YoY revenue growth and a 6% YoY ASP increase, driven by its higher-priced Reno 14 and Find series and overseas expansion across MEA, LATAM, and APAC.
- vivo posted 6% YoY revenue growth, supported by demand in China and India.
Outlook
Looking ahead, Research Director Tarun Pathak said global smartphone ASPs are expected to continue rising due to deeper premiumization, demand for AI-enabled features, and DRAM and NAND price hikes.
However, elevated memory prices and component costs are expected to pressure shipments in 2026, pushing brands to focus on value growth and portfolio mix improvements, with vendors lacking pricing power facing increased pressure.