According to the most recent market monitoring report from Counterpoint Research, in the second quarter of 2026, the revenue generated by the global smartphone market witnessed a 7% year-on-year increase, soaring to $109 billion. This figure sets a new record for revenue in the second quarter. Interestingly, this revenue growth occurred despite a drop in shipment volumes during the same timeframe. The primary driving force behind this revenue upswing was the hike in the average selling price (ASP) of smartphones. As consumers increasingly gravitate towards high-end devices, the ASP experienced a significant 17% year-on-year rise, reaching $400 and establishing a new benchmark for the second quarter. Moreover, the escalating costs of storage components led Android original equipment manufacturers (OEMs) to implement widespread price increases, which further fueled the upward trajectory of the ASP.