India has surpassed the US to claim the title of the world’s second-largest 5G handset market, trailing only China, according to a recent report. Counterpoint Research reveals that global 5G handset shipments saw a 20% year-on-year increase in the first half of 2024. Leading the charge, Apple dominated the 5G handset market with over 25% of global shipments, largely driven by the popularity of its iPhone 15 and 14 series.
The availability of budget-friendly 5G handsets has significantly fueled growth in emerging markets. India’s rise to second place was propelled by strong shipments from brands like Xiaomi, Vivo, and Samsung, particularly in the budget segment. Samsung secured the second position in global shipments with a market share exceeding 21%, thanks to the success of its Galaxy A series and S24 series. Notably, Apple and Samsung dominated the top 10 list for 5G models, with Apple securing the top four spots.
The demand for 5G handsets has also surged in other emerging markets, where consumers view these devices as essential upgrades, even at lower price points. The Asia-Pacific region accounted for 63% of global net additions and held a 58% share of 5G handset shipments. Europe, the Middle East, and Africa also experienced double-digit growth in 5G shipments. Tarun Pathak, Research Director at Counterpoint, noted that the expansion of 5G networks and the increasing availability of affordable 5G handsets will continue to drive this trend forward.
