The latest data from Counterpoint Research reveals that global smartphone market revenue grew by 7% year-over-year in the second quarter of 2026, reaching a record $109 billion. This growth was fueled by ongoing price increases from original equipment manufacturers (OEMs) and a rising share of premium-tier devices.

During the same period, smartphone average selling prices (ASP) rose by 17% year-over-year to $400, a second-quarter record, driven by strong demand for high-end models and across-the-board price hikes. While global smartphone shipments declined, the revenue surge was primarily attributed to the significant ASP increase.

Among major brands, Apple (Apple) posted the fastest revenue growth, rising 22% year-over-year to achieve its highest-ever second-quarter revenue. This was accomplished without resorting to price increases, thanks to sustained demand. The company's revenue share hit 49% for the quarter, also a second-quarter record. This performance was largely driven by the continued strong demand for the iPhone 17 series, particularly the base model and the iPhone 17 Pro Max, which further tilted Apple's product mix toward the premium segment. While most competitors raised prices, Apple maintained relatively stable pricing, showcasing its ability to absorb rising bill of materials (BOM) costs. Geographically, growth was led by China, Europe, and emerging markets, where Apple's stable pricing offered a significant value advantage in a market of rising Android prices.

Samsung Electronics Co., Ltd. (Samsung) secured the second position with a 16% revenue share in Q2. Its revenue grew by 9% year-over-year, supported by strong performance in North America and the Middle East and Africa regions. The Galaxy A series drove shipment growth, while the Galaxy S26 series maintained its high-end momentum. Samsung's vertical integration and better supply chain control helped manage rising input costs and maintain competitive pricing, keeping its ASP stable despite selective price increases on its product lineup.

Xiaomi was more significantly impacted by rising storage costs due to its higher exposure to the entry-level and mid-range segments. Cost-driven price increases led to faster demand declines than the benefits gained from higher ASPs. In response, Xiaomi is raising prices, streamlining its product portfolio, and shifting focus toward profitability over market size, while increasing its presence in the high-end and upper-mid-range segments.

OPPO and vivo saw their revenues decline by 10% and 11% year-over-year, respectively, despite their ASPs rising by 9% and 13%. vivo was the fastest-growing brand in ASP among the top five globally. The revenue declines for both brands were due to their heavy exposure to price-sensitive markets, where shipment drops largely offset the revenue gains from price increases. The rise in ASP, however, was supported by weak demand for entry-level products, overall price increases, and a continued shift toward higher-value devices.

Looking ahead, as storage supply constraints and rising costs are unlikely to ease in the near term, OEMs are expected to continue raising prices and further optimizing their product mixes toward higher-value models. Supply is becoming a key limiting factor, and the industry may face more severe shipment declines in the second half of 2026. Consequently, ASPs are likely to continue rising in the coming quarters.