Globally, Apple leads 5G phone shipments with more than 25 percent of the market
5G smartphones are increasingly gaining traction across different price ranges in India. According to a new report by Counterpoint Research, India has emerged as the world’s second-largest market for 5G smartphones, behind only China.
Prachir Singh, senior analyst at Counterpoint Research, highlighted that significant contributions from brands like Samsung, Vivo and Xiaomi, especially in the budget segment, have been key to this growth.
“India emerged as the second-largest 5G mobile market during the first half, overtaking the US. Strong shipments from Xiaomi, Vivo, Samsung and other brands in the budget segment were the key reasons for this trend,” Singh said.
China maintains the leading position with a 32% share of the global 5G smartphone market, while India has 13%. The US has fallen to third place with a 10% market share.
Globally, Apple leads 5G phone shipments with over 25 percent of the market, predominantly driven by the iPhone 15 and iPhone 14 series. Samsung follows with over 21 percent market share, thanks to its Galaxy A and S24 series. In the first half of 2024, Apple and Samsung each occupied five positions on the top ten 5G models list, with Apple occupying the top four spots.
India has significantly boosted Xiaomi’s growth, enabling it to secure the third position globally. According to Counterpoint Research, Xiaomi saw a triple-digit growth rate in India and double-digit growth in the Middle East, Africa, Europe and China.
Similarly, India has been a crucial growth driver for Vivo, along with China and other emerging Asian markets.
Tarun Pathak, research director at Counterpoint Research, said that in the first half of 2024, 5G-enabled devices accounted for more than 54 percent of the total mobile phone market, crossing the 50 percent threshold for the first time.
“As the democratization of 5G handsets increases with higher 5G penetration in lower price segments and the ever-increasing reach of 5G networks, this trend will continue to grow. The ongoing global premiumization trend will further drive this growth. According to our market outlook, 5G share will exceed 57 percent in 2024 and 65 percent in 2025,” he said.
First published: September 6, 2024 | 14:31 IS
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