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India Surpasses US as Second-Largest 5G Smartphone Market in 1H24: Counterpoint

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India has surpassed the US to become the second-largest market for 5G smartphones, driven by brands like Xiaomi, Vivo, and Samsung in the budget segment, according to Counterpoint Research. Apple leads globally with over 25% of shipments, followed by Samsung and Xiaomi. Emerging markets are seeing increased demand for affordable 5G handsets, leading to significant growth in various regions.

NEW DELHI: India has surpassed the United States to become the second-largest market for 5G smartphones, as reported by Counterpoint Research. This significant shift is attributed to robust shipments from brands such as Xiaomi, Vivo, and Samsung within the budget smartphone segment.

Currently, China retains the position as the largest 5G smartphone market globally. According to the data provided by Counterpoint Research, global shipments of fifth-generation enabled smartphones increased by 20% year-on-year in the first half of 2024.

Apple has emerged as the leader in global 5G handset shipments, holding over 25% of the market share, primarily driven by strong performance from the iPhone 15 and iPhone 14 series. Samsung follows in second place with over 21% share, largely due to the success of the Galaxy A and S24 series. Xiaomi occupies the third position, with notable growth in India.

In India, Xiaomi has reported a triple-digit growth rate, alongside a double-digit increase in the MEA, Europe, and China markets, according to Counterpoint. For Vivo, India remains a significant growth driver along with China and other emerging Asian economies. Among the top 10 brands, Motorola exhibited the most rapid growth, particularly thriving in the Caribbean, Latin America (CALA), India, MEA, and North American markets.

“5G handset shipments have been growing steadily, and with increased availability of 5G devices in budget segments, emerging markets have seen substantial growth. India has now become the second-largest 5G handset market in the first half of the year, surpassing the US,” stated Prachir Singh, Senior Analyst at Counterpoint.

Other emerging markets are also experiencing significant growth in 5G handsets. Consumers in these regions are increasingly viewing 5G smartphones as viable upgrades, even in lower price segments, as noted by Singh.

The CALA region reported the highest growth, with a remarkable 63% year-on-year increase, driven by significant advancements in key countries such as Mexico and Brazil. Although accounting for just 6% of global 5G shipments in H1 2024, the CALA region contributed to 14% of the global net additions.

In the Asia-Pacific region, it accounted for 63% of overall global net additions and held a 58% share of the 5G shipments. The European and Middle East and Africa (MEA) regions also experienced double-digit growth in 5G handset shipments during this period.


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