India surpasses U.S. as the 2nd largest market for 5G smartphones
New Delhi: India has surpassed the US to become the second-largest market for 5G smartphones, an ET Telecom report said, citing a recent study by Counterpoint Research.
The growth was mainly driven by strong shipments from brands like Xiaomi, Vivo, Samsung, and others in the budget segment.
China remains the world's largest market for 5G smartphones.
The research firm’s data indicated that global shipments of 5G-enabled smartphones increased by 20% year-on-year in the first half of 2024.
Xiaomi saw triple-digit growth in India and also recorded double-digit growth in the Middle East and Africa (MEA), Europe, and China markets, according to Counterpoint.
Vivo also witnessed significant growth in India, along with China and other emerging Asian economies.
Motorola, among the top 10 brands, grew the fastest, with notable expansion in the Caribbean and Latin America (CALA), India, MEA, and North America.
Emerging markets also showed substantial growth in 5G handset adoption, as consumers viewed 5G devices as an upgrade option even in lower price segments.
The CALA region emerged as the fastest-growing market, with 63% year-on-year growth, driven by significant increases in key countries such as Mexico and Brazil.
Despite accounting for only 6% of global 5G shipments in the first half of 2024, the CALA region contributed 14% of global net additions, as reported by Counterpoint.
The Asia-Pacific region represented 63% of global net additions and held a 58% share of 5G shipments.
In Europe and the Middle East and Africa (MEA) regions, 5G handset shipments also saw double-digit growth, according to the data.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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