Chinese consumers are on average spending more on smartphones than ever before, according to new data, which bodes well for U.S. giant Apple in a critical market for its expensive iPhones.
The average selling price of smartphones in mainland China was $450 last year and is expected to keep growing this year, market research firm Canalys said in a report last week.
International Data Corporation told CNBC that the average selling price for smartphones in China was nearly $470 in the first quarter of this year, up about 5% year-on-year.
The rise in ASP signals that the high-end part of the smartphone market remains resilient and that's where Apple competes.
This trend is positive for Apple, which was the only vendor in the top five in China to record growth in shipments in the second quarter, Canalys said.
Persons:
Canalys, Lucas Zhong, Zhong
Organizations:
Apple, CNBC, International Data Corporation, IDC, Apple Watch, Android
Locations:
China