New Delhi: India has emerged as the world’s second-largest market for 5G smartphones, surpassing the US, according to a recent report by Counterpoint Research. China continues to lead the global 5G smartphone market with a 32 per cent share, while India holds a 13 per cent share, and the US has dropped to third place with a 10 per cent share.
The rise in India’s 5G smartphone market is attributed to significant contributions from brands such as Samsung, Vivo, and Xiaomi, particularly in the budget segment. Prachir Singh, a senior analyst at Counterpoint Research, noted, “India became the second-biggest 5G handset market during the first half of the year, overtaking the US. The strong shipments from Xiaomi, Vivo, Samsung, and other brands in the budget segment were the main reasons for this trend.”
Globally, Apple leads in 5G handset shipments with over 25 per cent of the market share, driven primarily by the iPhone 15 and iPhone 14 series. Samsung follows with a 21 per cent market share, thanks to its Galaxy A and S24 series. In the first half of 2024, both Apple and Samsung featured prominently in the top ten list of 5G models, with Apple securing the top four positions.
India has played a crucial role in Xiaomi's growth, helping the company secure the third position globally. Xiaomi saw a significant increase in India, with triple-digit growth rates, and also experienced double-digit growth in the Middle East, Africa, Europe, and China.
Similarly, Vivo’s growth has been significantly driven by the Indian market, alongside China and other emerging Asian markets.
Tarun Pathak, research director at Counterpoint Research, highlighted that 5G-enabled devices accounted for more than 54 per cent of the total handset market in the first half of 2024, surpassing the 50 per cent mark for the first time. He added, “As the democratisation of 5G handsets increases with greater 5G penetration in lower price segments and the expanding reach of 5G networks, this trend will continue to grow. The ongoing global premiumisation trend will further fuel this growth. According to our market outlook, the 5G share will cross 57 per cent in 2024 and 65 per cent in 2025.” /BI
