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Global smartphone revenue reached $114 billion in the third quarter, up 3% year over year despite a 19% drop in shipments. The average selling price rose 27% to a record $442. Counterpoint attributed revenue growth to higher prices and increased sales of premium-priced phones, while warning that memory-chip costs are squeezing companies’ margins, particularly in the budget segment. Its report found that retail prices had risen by an average of 15% since the start of 2026, while prices for new models were up 25% compared with the previous year. The increases affected more than 1,600 of the over 4,000 models surveyed.
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