Smartphones have become an integral part of modern day life with each year bringing new advancements in the technology. But due to these added features and various improvements, the average selling price of smartphones for certain brands have risen. Although, Apple takes the cake with the an average selling price of an iPhone hitting nearly a 1,000 US Dollars.

Apple iPhones costs nearly $1,000 on average

Just a decade ago, 500 US Dollars for a smartphone was already considered pretty pricey. But now, we have devices that cost more than twice this amount, with the Cupertino based giant being the first to surpass the 1,000 Dollar mark in 2017 with its iPhone X model. Now, a new survey from CIRP (Consumer Intelligence Research Partners) has found that the average selling price of the iPhones has hit an all time high of 988 US Dollars as of March 2023.

This is quite notable considering it marks an over 100 US Dollar rise over the 882 US Dollar average iPhone selling price from just last year. One of the aspects that led to the rise is the new iPhone 14 Plus model, which replaces the iPhone 13 mini variant in the latest lineup. The mini model costed around 699 US Dollars at launch, while the Plus model went on sale for 899 US Dollars. Owing to the larger screen real estate, the latter has also been better received in the market.

But regardless, the Pro iPhone models still makeup for the majority of Apple smartphone sales. This is thanks to the brand’s efforts in offering exclusive features on the higher end models, which has led to a larger gap between the vanilla and top end model. So it won’t arrive as a surprise if the average selling price soon crosses the 1,000 US Dollars mark.

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Yesterday, Xiaomi released its unaudited financial report for H1 2020. According to it, the Chinese company generated RMB103.24 billion in revenue with 7.9% YoY growth. Further, Its gross profit was approximately RMB15.26 billion, whereas profit for the period was approximately RMB6.65 billion. As per the company. both of them increased 22.3% YoY and 29.3% YoY beating market consensus.  What’s interesting is the firm managed to achieve this feat despite COVID-19 global pandemic.

Apart from making a profit in the period, Xiaomi once again made the Fortune Global 500 list in the same duration. Last year, the firm ranked 468 and was the youngest company on the list. This year, its ranking improved by 46 places; thus came 422nd.

The company revealed in an official press release that it generated RMB61.952 billion and RMB31.628 billion from smartphone sales in the first and second quarters of 2020 respectively. As a whole, it shipped a total of 28.3 million smartphones in H1 2020.

According to Canalys, Xiaomi even ranked as the world’s 4th largest smartphone brand with a market share of 10.1% in Q2 2020. Due to the increase in sales (99.2% YoY) of devices priced €300 and above, the company’s average selling price (ASP) increased to an all-time high of 1116.3 yuan ($162) by 11.8% YoY and 7.5% QoQ respectively.

The firm’s revenues from international markets were RMB48.861 billion and RMB24.029 billion for the first half and the second quarter of 2020 respectively. In Q2, it ranked among the top 5 in 50 markets and top 3 in 25 of these countries/regions.

UP NEXT: Xiaomi sees marginal growth in India despite production restrictions

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Though Samsung was overtaken by Huawei globally in the month of April, the company witnessed its highest average selling price (ASP) in 6 years in Q1 2020 according to Strategy Analytics.

Samsung’s ASP was $292 from January to March, an 8.5% YoY increase and 20.7% more than Q4 2020. This is indeed a great achievement by the South Korean tech giant despite the global pandemic.

Last time the company’s ASP was around this value ($297) was in Q2 2014, almost 6 years back. Though the new steep ASP is $5 less than the previous one,  it is yet much better than the other quarters.

In previous years like 2017, 2018, and 2019, Samsung’s average selling price was $243, $251, and $247 respectively.

The huge increment in Q1 2020 was due to the demand for expensive flagships like the Galaxy S20 series and Galaxy Z Flip clamshell foldable smartphone. Samsung’s revenue surged 22.1% in this period from 21.7% last year and 14.4% from the previous quarter (Q4 2019).

For comparison, Apple had the highest revenue of 37.5% at the same time. Samsung is expected to launch Galaxy Fold 2, a cheaper Galaxy Fold, and Galaxy Note 20 series in the second half of this year. If the demand for high-end devices stay constant or increase, the company’s ASP could further improve.

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