India Emerges as the Second-Largest Market for 5G Smartphones
India's Rise in the 5G Smartphone Market
India has officially surpassed the US to secure its position as the world's second-largest market for 5G smartphones, according to a report by Counterpoint Research. The study highlights that China remains the dominant player, holding a substantial 32% share, while India's market share has surged to 13%.
Key Contributors to India's Growth
Growth in India has been primarily driven by robust sales of budget-friendly options from renowned brands like Samsung, Vivo, Xiaomi, and others. Prachir Singh, a senior analyst at Counterpoint Research, emphasized how the increased availability of affordable 5G devices has significantly boosted smartphone shipments.
- Apple leads global shipments with over 25%, thanks to the iPhone 15 and 14 series.
- Samsung follows closely, holding over 21% with its Galaxy A and S24 series.
- Xiaomi has shown remarkable growth with a rapid increase in the Indian market.
With 5G handset shipments growing steadily, the report indicates that this trend will continue as more affordable models are introduced, further expanding consumer access to advanced technology.
Future Predictions
Tarun Pathak, research director at Counterpoint Research, forecasts that 5G handsets will comprise more than 54% of the overall handset market in the first half of 2024, a notable milestone that emphasizes the growing adoption of 5G technologies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.