New Delhi: A report has revealed that India has overtaken the US for the first time to become the world's second largest 5G handset market after China.
According to Counterpoint Research, global 5G handset shipments grew by 20 percent (year-on-year) in the first half of 2024. Apple led the way with over 25 percent share of 5G handset shipments.
Apple led 5G handset shipments globally, with a share of over 25 percent, driven by the iPhone 15 and iPhone 14 variants.
5G handset shipments are growing steadily and with the increasing availability of 5G handsets in the budget segment, the segment has witnessed rapid growth in emerging markets.
Analyst Prachir Singh said, “India overtook the US to become the second-largest 5G handset market during the first half. Strong shipments of Xiaomi, Vivo, Samsung and other brands in the budget segment were the main reason for this.”
Samsung ranked second with over 21 percent share, thanks to the Galaxy A series and S24 series. Apple and Samsung took five spots in the top-10 list for 5G model phones in the first half of 2024, with Apple taking the top four spots.
Other emerging markets also saw high growth in 5G handsets. Consumers in emerging markets are looking at 5G handsets, even in the lower price segment, as an upgrade to their devices.
Asia-Pacific accounted for 63 per cent of total global net adds and 58 per cent of 5G shipments. Europe and the Middle East and Africa (MEA) regions also saw double-digit growth in 5G handset shipments.
Research Director Tarun Pathak said this trend will further increase as 5G penetration in lower price segments increases, 5G networks expand and availability of 5G handsets increases.
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Image Credit: Khas-Khabar.