India has surpassed the US to become the world's second-biggest 5G handset market for the first time, only behind China, a report has stated. Global 5G handset shipments grew 20 percent YoY in the first half of 2024, according to Counterpoint Research. Apple led the 5G handset shipment, accounting for over 25 percent share.
Apple led the 5G handset shipments globally, accounting for over 25 percent share, driven by strong shipments of the iPhone 15 series and 14 series. The shipments of 5G handsets have grown gradually, and with increased availability in the budget segment, the emerging markets have seen high growth in this segment. "India became the second-biggest 5G handset market during the first half, overtaking the US.
This was due to strong shipments from Xiaomi, Vivo, Samsung, and other brands in the budget segment," said senior analyst Prachir Singh. At second position, Samsung took more than 21 percent share driven by the Galaxy A series and S24 series. Apple and Samsung took five spots apiece in the top 10 list of 5G models during the first half of 2024, with Apple occupying the top four positions. Other emerging markets also registered high growth for 5G handsets.
Consumers in emerging markets are looking at 5G handsets as a device upgrade, even in the lower price segments. This accounted for 63 percent of the overall global net adds, commanding a 58 percent 5G shipment share. In Europe, too, and the Middle East and Africa, 5G handset shipments have also witnessed double-digit growth. Research Director Tarun Pathak said that with the democratization of 5G handsets continuing to grow along with greater 5G penetration into lower price segments and higher expansion in 5G networks, this trend is only set to rise.
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