5G Spurs Higher Smartphone ASPs: Tower Semiconductor CEO

Revenue from Tower Semiconductor sales of RF silicon-on-insulator smartphone components increased 40% year over year in Q2 on surging consumer demand for 5G handsets, said CEO Russell Ellwanger on an earnings call Monday. Shipments of 5G smartphones are expected to double this year compared with 2020, reaching 550 million handsets globally out of a total of about 1.3 billion, he said. “This shift, combined with the high content increase of 5G and our strong position in this market, fuels our continued growth,” he said. “The shift to more advanced and higher-value 5G technology is helping increase the average selling prices in this segment. This trend is expected to continue for at least the next several quarters.”