India surpasses US to become 2nd-largest 5G smartphone market
What's the story
India has surpassed the US to become the world's second-largest market for 5G smartphones, according to a report by Counterpoint Research. The study reveals that China continues to dominate as the largest market for these advanced devices. Prachir Singh, a senior analyst at Counterpoint Research, attributed this growth in India primarily to robust sales from brands including Samsung, Vivo, Xiaomi, and others in the budget segment.
Market dynamics
India's market share in global 5G smartphone sector
The report indicates that China holds a 32% share of the global 5G smartphone market, while India now commands a significant 13%. This development has resulted in the US falling to third place with a 10% market share. Singh noted, "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."
Brand performance
Apple and Samsung lead global 5G handset shipments
In terms of brand performance, Apple emerged as the leader in global 5G handset shipments with over a 25% share, primarily due to the iPhone 15 and iPhone 14 series. Samsung followed closely behind with more than a 21% share, driven by its Galaxy A series and S24 series. Both tech giants secured five spots each in the top-10 list for 5G models during H1 of this year.
Growth drivers
Xiaomi and Vivo experience growth in India
Xiaomi experienced substantial growth in India, securing the third spot with a triple-digit growth rate. Similarly, Vivo also saw significant expansion in the Indian market. Tarun Pathak, research director at Counterpoint Research, stated that "5G handset contribution to the overall handset market was over 54% in H1 2024, crossing 50% for the first time." He predicted this trend will continue as more affordable 5G handsets become available and networks expand.