India Overtakes US As Second-largest Market For 5G Smartphones

India has gone ahead of the United States to become the second-largest market for 5G smartphones, trailing only behind China, according to a recent Counterpoint Research report. 

This shift has been driven largely by the increasing availability of affordable 5G models from brands such as Xiaomi, Vivo and Samsung.

In the first half of 2024, global shipments of 5G smartphones experienced 20 per cent increase year-on-year (YoY). Apple led the global market with over 25 per cent of the share, fueled by the popularity of its iPhone 15 and 14 series. Samsung followed with more than 21 per cent of the share, thanks to strong sales of its Galaxy A and S24 series. Xiaomi, which secured the third position, saw remarkable growth in India, which played a pivotal role in its performance.

The report mentioned that Vivo, similar to Xiaomi, experienced significant growth in India, alongside China and other emerging Asian economies. Motorola emerged as one of the fastest-growing brands, particularly in the Caribbean, Latin America, India, and North America. The proliferation of budget-friendly 5G handsets is credited with driving growth in these emerging markets, where consumers are increasingly upgrading to 5G devices despite budget constraints.

The Caribbean and Latin America (CALA) region demonstrated the most substantial growth, with a 63 per cent year-on-year increase, largely driven by gains in Mexico and Brazil. CALA accounted for 14 per cent of global net additions in 5G handset shipments in the first half of 2024, though its share of total 5G shipments remained at 6 per cent. Meanwhile, the Asia-Pacific region dominated, contributing 63 per cent of global net additions and holding a 58 per cent share of 5G shipments.