NEW DELHI: India has overtaken the US to emerge as the second-largest market for 5G smartphones after China in the first half of 2024, with affordable models of Xiaomi, Vivo, Samsung and others driving the trend, a Counterpoint Research report said.
Global shipments of fifth generation network-enabled smartphones increased 20% year on year in the first half of 2024, the research firm’s data showed.
Apple led 5G handset shipments globally, accounting for more than 25% share, driven by the iPhone 15 series and 14 series, followed by Samsung with more than 21% share on the back of strong shipments of the Galaxy A series and S24 series. Xiaomi took the third spot, with India being its major driver.
Xiaomi registered a triple-digit growth rate in India while also registering a double-digit growth rate in the MEA (Middle East and Africa), Europe and China markets, as per Counterpoint.
For Vivo also, India was the major growth driver along with China and emerging Asian economies. Among the top 10 brands, Motorola grew the fastest, posting strong growth in the Caribbean and Latin America (CALA), India, MEA and North America markets, the research firm said in its report. “5G handset shipments have been growing steadily and, with the increased availability of 5G handsets in the budget segment, the emerging markets have witnessed high growth in this segment,” said Prachir Singh, senior analyst at Counterpoint Research.
Consumers in emerging markets are looking at 5G handsets as an upgrade to their devices, even in the lower price segments, Singh said.
CALA was the fastest-growing region, registering 63% yoy growth, driven by high growth in key countries like Mexico and Brazil.
The CALA region accounted for 14% of global net additions in 5G handset shipments in the first half while its share in 5G shipments was 6%. Asia-Pacific had 63% of the overall global net adds and commanded a 58% 5G shipment share.
Source: The Economic Times
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