This story was initially printed on the Benzinga India portal.
India has leapfrogged the US to change into the second-largest 5G smartphone market worldwide, as per a latest report by Counterpoint Analysis.
What Occurred: The report reveals that India now instructions a 13% share of the worldwide 5G smartphone market, solely behind China, which holds a 32% share. The US has now dropped to the third spot with a ten% market share.
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The surge in India’s 5G smartphone market is probably going resulting from sturdy gross sales numbers from manufacturers equivalent to Samsung SSNLF, Vivo and Xiaomi XIACF, particularly within the funds section.
“5G handset shipments have been rising steadily and with the elevated availability of 5G handsets within the funds section, the rising markets have witnessed excessive progress on this section,” stated Prachir Singh, senior analyst at Counterpoint Analysis.
Amongst manufacturers, Apple emerged because the chief in international 5G handset shipments with over 25% share, trailed by Samsung with a 21% share. Xiaomi clinched the third spot, registering a triple-digit progress charge in India.
Tarun Pathak, analysis director at Counterpoint Analysis stated that “5G handset contribution to the general handset market was over 54% in H1 2024, crossing 50% for the primary time.” This means a rising acceptance and adoption of 5G expertise, particularly in rising markets like India.
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Disclaimer: Synthetic intelligence was used as a secondary support within the writing of this story.
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