India emerges as second-largest global 5G smartphone market, overtakes US

According to Counterpoint Research, 5G smartphones are gaining traction across various price segments in India, with the country now ranking as the world’s second-largest market for 5G devices. India trails only China, which leads with a 32% global market share, while India holds a 13% share. The US has dropped to third place with a 10% market share. Significant contributions from brands like Samsung, Vivo, and Xiaomi, particularly in the budget segment, have driven this growth.

A senior analyst at Counterpoint Research, Mr. Prachir Singh, noted that India’s strong performance in 5G smartphone shipments, surpassing the US in the first half of 2024, was fuelled by robust shipments from Xiaomi, Vivo, and Samsung. Globally, Apple leads over 25% of the 5G handset market, largely due to the iPhone 15 and 14 series. In comparison, Samsung holds over 21% with its Galaxy A and S24 series. In the first half of 2024, Apple and Samsung each occupied 5 positions in the top ten list of 5G models, with Apple dominating the top 4 spots. The shift towards 5G is evident as 5G-enabled devices now make up over 54% of the total handset market, with forecasts predicting a rise to 57% in 2024 and 65% in 2025.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.