India has overtaken the United States to become the world’s second-largest market for 5G smartphones in the first half of 2024, while China continues to lead as the top global market. The significant growth in India is attributed to the availability of affordable 5G smartphones from leading brands such as Xiaomi, Vivo, and Samsung, according to a report by Counterpoint Research.
Global surge in 5G smartphone shipments
The Counterpoint Research report highlighted a 20 per cent year-on-year increase in worldwide shipments of 5G-enabled smartphones during the first six months of 2024. This surge in demand was led by Apple, which maintained its dominance in the global 5G smartphone market with a market share exceeding 25 per cent, driven primarily by the popularity of its iPhone 15 and iPhone 14 series.
Samsung followed as a close second, capturing more than 21 per cent of the market share. The company’s success was powered by robust sales of its Galaxy A and S24 series, which have been particularly popular across various markets.
Xiaomi’s strong performance in India
Xiaomi secured the third spot globally, with India emerging as a key driver of its growth. According to the Counterpoint report, Xiaomi achieved a triple-digit growth rate in India, making it a significant contributor to the brand’s global success. The company also posted double-digit growth in other key regions, including the Middle East, Europe, and China.
Vivo, another major player in the 5G smartphone market, also witnessed substantial growth, with India serving as a primary growth engine alongside China and other emerging Asian economies. The affordability and advanced features of Vivo’s 5G devices have made them particularly appealing in these markets.
Motorola records fastest growth among top 10 brands
Motorola stood out among the top 10 smartphone brands by posting the fastest growth in the first half of 2024. The brand saw significant sales increases in the Caribbean and Latin America (CALA), India, the Middle East and Africa (MEA), and North America markets. Its aggressive expansion strategy and competitive pricing have helped it capture a larger share of the global 5G market.
India’s rise in the 5G market
India’s ascension to the second-largest 5G smartphone market reflects a broader trend of increasing smartphone adoption in the country, particularly in the 5G segment. The government’s push for a digital economy, coupled with the rapid rollout of 5G networks and the availability of affordable devices, has accelerated the transition from 4G to 5G among Indian consumers.
With major brands like Xiaomi, Vivo, and Samsung continuing to invest in the Indian market and roll out cost-effective 5G models, the growth trajectory is expected to continue in the coming months. This shift highlights India’s potential to emerge as a key player in the global 5G ecosystem.
Future outlook for 5G smartphone market
The global 5G smartphone market is poised for further expansion, driven by increasing consumer demand for high-speed internet, enhanced connectivity, and the growing availability of 5G networks. As brands like Apple, Samsung, and Xiaomi continue to innovate and expand their product offerings, the competition in the 5G segment is likely to intensify.
With India now firmly positioned as a major market for 5G smartphones, the country is set to play a critical role in shaping the future of the global 5G landscape. The continued growth in this segment will not only bolster India’s digital economy but also enhance its standing as a significant player in the global technology sector.
