Market Dominance
It has been found that Apple accounted for more than half of the global smartphone market sales in the fourth quarter of last year thanks to the popularity of the iPhone X.
In the fourth quarter of 2017, Apple accounted for 51 percent of the global smartphone market with US$ 61.4 billion in sales, according to research firm Strategy Analytics. This figure is more than three times higher than Samsung Electronics's US$ 18.9 billion in second place. Samsung Electronics's smartphone sales accounted for only 15.7% of the total market.
Apple's iPhone sales growth was attributed to a rise in average selling prices (ASPs). In the fourth quarter, Apple sold its iPhone X for US$ 999 to US$ 1,150, resulting in US$ 88.3 billion in sales, an all-time quarterly high, in the fourth quarter.
The average selling price of the iPhone touched US$ 800 in the fourth quarter. Apple sold 77.3 million units of the iPhone in the fourth quarter, accounting for more than half of global smartphone sales. Apple earned more than its competitors' combined smartphone sales.
Sales gaps between Apple and other companies widened as the latter ranked lower in the sales standings. Huawei's sales hit US$ 8.4 billion with a market share of 7%. Apple recorded a seven-fold sales gap with Huawei. Although Samsung Electronics’s ASP was relatively high at US$ 254 thanks to the popularity of the Galaxy Note 8 and the Galaxy S8, a drop in the company’s sales in China among others widened its gap with Apple.
Huawei emerged as the world's third largest smartphone company with strong sales in the Chinese market with its budget models. However, its sales stood at US$ 20.5 billion due to its sales strategy centered on low-priced phones.