India beats US to emerge as the second largest 5G smartphone market

5G phones

5G smartphones in India have been making their presence felt across price segments. Now, a report by Counterpoint Research reveals that India is now the second largest 5G smartphone market in the world. China remains the biggest market for 5G smartphones, as per the report.

Prachir Singh, senior analyst, Counterpoint Research, said that strong numbers from Samsung, Vivo, Xiaomi and other brands in the budget segment was one of the big contributors. “5G handset shipments have been growing steadily and with the increased availability of 5G handsets in the budget segment, the emerging markets have witnessed high growth in this segment,” said Singh.

Overall, China has 32% share in 5G smartphones and India has 13% share of the overall market. The US slipped to third with 10% market share of 5G smartphones in the world.

In terms of brands, Apple led the 5G handset shipments globally, accounting for more than 25% share. Most of the shipments were of iPhone 15 and iPhone 14 series, as per the report. Samsung secured second spot, capturing more than 21% share, driven by the Galaxy A series and S24 series. Apple and Samsung took five spots each in the top-10 list for 5G models in the first half of 2024, with Apple taking the top four spots.

India was a big driver for Xiaomi’s growth as it secured the third sport. As per Counterpoint Researchh, Xiaomi registered a triple-digit growth rate in India while also registering a double-digit growth rate in the MEA, Europe and China.

Like Xiaomi, India was a major growth driver for Vivo as wel. For vivo also, India was the major growth driver along with China and emerging Asian economies.

“5G handset contribution to the overall handset market was over 54% in H1 2024, crossing 50% for the first time. As the democratisation of 5G handsets increases with increasing 5G penetration in lower price segments as well as increasing expansion of 5G networks, this trend will further grow,” said Tarun Pathak, research director, Counterpoint Research.