On November 3, the latest market monitoring data from Counterpoint Research revealed that global smartphone shipments declined 19% year-on-year in the third quarter of 2026. However, higher average selling prices drove global smartphone revenue up 3% year-on-year to $114 billion, as pricing and premiumization trends fully offset the sharp drop in shipments. Fueled by both a greater contribution from high-end models and industry-wide price increases driven by memory costs, the global smartphone average selling price (ASP) surged 27% year-on-year to $442, setting a new single-quarter record.