India has overtaken the US to become the world's second-largest market for 5G devices. (Representative)
Daily New:
India has overtaken the United States to become the world's second-largest market for 5G devices for the first time, behind China, a report said.
Global 5G device shipments will grow 20% year-over-year in the first half of 2024, according to Counterpoint Research. Apple leads 5G device shipments, with a share of over 25%.
Apple led global 5G device shipments, capturing over 25 percent share, driven by strong shipments of the iPhone 15 and 14 series, news agency IANS reported.
With 5G device shipments growing steadily and 5G devices becoming more available in the hardware segment, emerging markets are witnessing high growth in this segment.
“India became the second largest market for 5G devices in the first half, overtaking the US. Strong shipments from Xiaomi, Vivo, Samsung and other brands in the hardware segment are the main reason for this trend,” said Prashir Singh, senior analyst.
Samsung came in second, with more than 21% share, driven by the Galaxy A and S24 series. Apple and Samsung will each occupy five spots in the top 10 5G models in the first half of 2024, with Apple taking the top four spots.
Other emerging markets will also experience high growth in 5G devices. Consumers in emerging markets are looking for 5G devices as an upgrade to their devices, including in the lower price ranges.
The Asia-Pacific region accounted for 63% of global liquidity additions and captured a 58% share of 5G transfers. In Europe, the Middle East and Africa, 5G phone shipments will also register double-digit growth.
As 5G devices become more democratized, with 5G penetration increasing in the low-price segments, and with the increasing expansion of 5G networks, this trend will only grow, said Tarun Pathak, research director.
(Except that this story has not been edited by NDTV staff and is published from a syndicated feed.)
