World Update

US Position as Second Largest 5G Mobile Phone Market Shifts




Counterpoint Market Monitor research shows that global 5G smartphone shipments grew 20 percent YoY in the first half of 2024.

“5G smartphone shipments have been growing steadily and with the increasing availability of 5G smartphones in the budget segment, emerging markets have witnessed high growth in this segment. India became the second largest 5G smartphone market during the first half, overtaking the US,” said CMM senior analyst Prachir Singh.



The increase was driven by sales of Xiaomi, vivo, Samsung and other brands in the budget segment. Other emerging markets are also witnessing high growth in 5G phones. Consumers in emerging markets see 5G phones as an upgrade to their devices, even in lower price segments.

“The Caribbean and Latin America (CALA) region was the fastest growing region, posting 63% YoY growth, driven by strong growth in key markets such as Mexico and Brazil. The CALA region accounted for 14 percent of global net additions despite having a 6 percent share of 5G shipments in H1 2024. Asia-Pacific accounted for 63 percent of global net additions and had a 58 percent share of 5G shipments. In Europe and the Middle East and Africa (MEA) region, 5G smartphone shipments also saw double-digit growth,” he explained.

Apple led global 5G smartphone shipments, capturing more than 25 percent share, driven by large shipments of the iPhone 15 series and 14 series.

Samsung followed in second place, capturing more than 21 percent share, driven by the Galaxy A series and S24 series.

Apple and Samsung each occupy five spots in the top 10 list for 5G models in the first half of 2024, with Apple occupying the top four spots.

Xiaomi is in third place, with India being its main driver. Xiaomi recorded triple-digit growth in India while also registering double-digit growth in MEA, Europe, and China.

For vivo, India is also a key growth driver along with China and emerging Asian countries.

Among the top 10 brands, Motorola grew the fastest, registering strong growth in CALA, India, MEA and North America markets.

Meanwhile, Research Director Tarun Pathak said that the contribution of 5G phones to the overall mobile phone market was more than 54 percent in the first half of 2024, surpassing 50 percent for the first time.

As 5G mobile phones become increasingly democratized with increasing 5G penetration in lower price segments and increasing 5G network expansion, this trend will only grow further.

“The ongoing global premiumization trend will further fuel this growth. According to our market outlook, 5G market share will exceed 57 percent in 2024 and 65 percent in 2025,” he said. rmol news logo article

EDITOR: JONRIS PURBA





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