Asian Tech Press (Dec 26) -- Global smartphone revenue declined 3% in the third quarter of 2022, according to Counterpoint.

In the third quarter of 2022, the global smartphone handset market's revenue declined 3% year-over-year to just over $100 billion, according to the latest report from Counterpoint. Meanwhile, shipments across the smartphone market fell 12% year-over-year in the quarter.

The average selling price (ASP) grew 10% year-over-year as the high-end handset market became more resilient in the face of economic volatility, the report said.

Counterpoint said shipments of 5G phones reached a record high, accounting for 46% of total shipments, and 5G phones are about five times more expensive than non-5G phones, which contributed to the ASP and revenue growth.