Apple made nearly as much money as Samsung and Huawei combined in Q2 despite lower iPhone sales

The global smartphone market shrank 23 percent year on year during the second quarter of 2020, with revenue plummeting 15 percent. 

Despite that, the average selling price (ASP) of smartphones actually increased by 10 percent when compared to the same period last year. Analytics firm has chalked that up to the resilience shown by the premium segment, which didn't take as much of a hit from the pandemic as other categories.

Overall, sales of high-end phones declined 8 percent when compared to the year-ago quarter, which is less than the average decline. 

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