Apple Surpasses Expectations as Global Smartphone Revenue Hits Record $109 Billion

Global smartphone revenue rose 7% year-over-year in Q2 of 2026, reaching $109 billion and setting a record for the second-highest level ever recorded. Despite a decline in global smartphone shipments during the same period, revenue growth was driven by a rise in average selling price (ASP), which increased 17% year over year to $400.

Apple achieved a record-high revenue share of 49%, with its quarterly revenue growing 22% year-over-year. This performance was attributed to strong demand for the iPhone 17 series, particularly the base-model iPhone 17 and the iPhone 17 Pro Max, which has further shifted Apple's product mix toward the premium segment.

Shilpi Jain, a senior analyst at Counterpoint Research, stated that 'the global smartphone market has entered a new phase, where shipment volume is no longer the primary driver of growth; instead, value-based growth has become the cornerstone of market expansion.'