In the second quarter, Apple captured 49% of global smartphone revenue, despite only accounting for 23% of shipments. This significant revenue share highlights the substantial profitability of each iPhone device compared to competitors. Apple's iPhone revenue surged by 22% year-over-year, marking the fastest growth among major brands and setting a new second-quarter record for revenue share.

This growth was driven by increased shipments, up 13%, and a higher average selling price (ASP) of $946, an 8% increase. Demand for the iPhone 17 lineup, particularly the base and Pro Max models, contributed to Apple's concentration on premium devices. While many Android manufacturers rely on lower-priced segments where price hikes can deter buyers, Apple maintained its premium focus with relatively stable pricing, enhanced by rising industry memory costs.

Globally, smartphone shipments declined, but total revenue rose 7% to $109 billion, with the ASP increasing 17% to $400. Samsung followed Apple with 16% of revenue, while Xiaomi, OPPO, and vivo saw revenue declines despite increased ASPs. Counterpoint Research anticipates potential iPhone price increases in future quarters due to rising component costs, which could impact Apple's sustained advantage.