Apple set a record 51% share of revenue in the worldwide smartphone industry last quarter, which encompassed the launch of the iPhone X, according to research firm Strategy Analytics. Apple had a strong showing in China during the Q4 of 2017. Apple’s handset shipments rose 12% during the final three months of last year, compared to the Q3 results. During the same time period, deliveries of Android phones declined 17% in China.
According to the report released today, said that Apple set a new record by collecting 51% of global smartphone wholesale revenue during the fourth quarter of 2017. That amounted to $61.14 billion. Certainly the iPhone X had a lot to do with that record setting performance. During the same quarter in 2016, Apple had 48.5% of the wholesale market.
iPhone’s average selling price was $796 last quarter, up from $695 in year-ago quarter, which Strategy Analytics estimates to be almost three times higher than the overall industry average. Apple sold 77.3 million iPhones in the quarter, but it didn’t disclose how many of those sales were iPhone X models.
Priced at $999 and up, the iPhone X has undoubtedly helped Apple increase its revenue share in the smartphone industry. What’s more important is profits, however, and the iPhone often accounts for over 100 percent of net income in the smartphone industry when factoring in the losses posted by some rivals.
Apple accounted for more smartphone revenue than the rest of the entire industry combined in the quarter, driven by “solid demand” for the iPhone X, said Strategy Analytics executive director Neil Mawston.