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India surpasses US to become second largest 5G smartphone market
The U.S., once a leading player in the 5G market, has seen its share decrease as India’s market expands rapidly.
India now holds a 13 percent share of the global 5G smartphone market, surpassing the US. / Pexels/Stock Image
India has overtaken the United States to become the second largest 5G smartphone market in the world, according to a report by Counterpoint Research.
While China continues to hold the top position holding a 32 percent share of global shipments, India now holds a 13 percent share of the global 5G smartphone market, surpassing the U.S., which has slipped to third place with a 10 percent share.
Prachir Singh, senior analyst at Counterpoint Research, attributed India’s growth to strong sales from brands like Samsung, Vivo, and Xiaomi, especially in the budget segment. “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,” Singh said in a statement.
The report also found that globally, Apple led in 5G handset shipments, securing more than 25 percent of the market, driven by strong sales of the iPhone 15 and iPhone 14 series. Samsung followed closely, capturing over 21 percent of the market, with its Galaxy A series and S24 series contributing significantly to its growth. Apple and Samsung each claimed five spots in the top ten 5G models for the first half of 2024, with Apple dominating the top four positions.
India played a key role in Xiaomi’s rise to third place globally. Counterpoint Research reported that Xiaomi experienced a triple-digit growth rate in India, while also seeing double-digit growth in regions like the Middle East, Europe, and China. Similarly, India was a major driver for Vivo's growth, alongside China and other emerging Asian economies.
“5G handset contribution to the overall handset market was over 54 percent in H1 2024, crossing 50 percent for the first time,” said Tarun Pathak, another analyst at Counterpoint Research. “As the democratization of 5G handsets increases with growing 5G penetration in lower price segments and expanding 5G networks, this trend will further accelerate,” he added in the official statement.
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