The report reveals that global 5G handset shipments grew 20% year-over-year in the first half of 2024, with 5G devices now accounting for over 50% of all smartphone shipments for the first time.India experienced the fastest growth among major markets, with 5G shipments surging 60% compared to the first half of 2023.
Strong shipments of budget 5G handsets driving the growth
“Strong shipments from Xiaomi, vivo, and other brands in the budget segment were the main reason for this trend,” added Prachir Singh, Senior Analyst at Counterpoint. He noted that consumers in emerging markets are increasingly viewing 5G handsets as an upgrade option, even in lower price segments.
China captured 32% of global 5G smartphone shipments, followed by India and the US at 13% each. The Caribbean and Latin America region saw the highest growth rate at 63% year-over-year.
Apple led 5G handset shipments globally with over 25% market share, driven by strong sales of iPhone 15 and 14 series devices.
Commenting on the near-term outlook for 5G shipments, Research Director Tarun Pathak said, “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. The ongoing global premiumization trend will further fuel this growth. According to our market outlook, 5G share will cross 57% in 2024 and 65% in 2025.”
