Report: iPhone 17 demand helped Apple hit record Q1 smartphone revenue

Apple captured 48% of global smartphone market revenue in Q1 2026—its highest first-quarter share—while achieving a record average selling price of $908 per device, demonstrating superior pricing power and cost absorption capabilities amid industry-wide memory supply constraints. This performance reflects Apple's ability to maintain stable pricing and customer demand despite competitors raising prices, positioning the company to continue expanding margins as the broader smartphone market faces ASP pressure and declining shipment volumes through 2026. For IT organizations, this underscores the strategic advantage of Apple's ecosystem resilience and premium positioning as enterprises evaluate mobile device procurement strategies and total cost of ownership.