Overview: The overall smartphone ASP is projected to rise by 2.3% YoY to $366 in 2025, a lower forecast than our September prediction of a 3.5% increase, but exactly the same as the forecast published in June. It is difficult to pin down an overarching reason for the cut to ASP projections, with a mixed picture in which some reigons' ASPs gained while some retreated. However four key mature markets, namely North America, Western Europe, China and Japan saw ASP growth slow; In parallel, at the OEM level Apple's ASP retreat contributed the most to the global average's drop, due to a product mix reshuffle that saw the presence of the iPhone 16e, the iPhone 17 Air, as well as surprising strength in the iPhone 17 base models drag down the OEM's average. Elsewhere, Huawei's ASP drop due to a delayed flagship launch and more competition in the premium segment led to a sizeable drop in average ASP. There was further shipment growth in Emerging Markets such as India, APAC and MEA, all of which meant company average ASP are lowered due to higher contribution in mid to low end segments, and this effect was most pronounced by almost all Chinese Android OEMs except Transsion.

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