India Ranks Second As Global 5G Phone Shipments Rise 20% YoY

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In the first half of 2024, driven by budget models from Xiaomi and Vivo, India has reportedly become the world’s second-largest 5G handset market, surpassing the US, with a 20% global shipment increase worldwide.

India has emerged as the world’s second-largest 5G handset market, surpassing the US for the first time in the first half of 2024, behind China, according to Counterpoint’s latest update. This shift highlights India’s rapid adoption of 5G technology, driven by strong performance in the budget segment from brands like Xiaomi, Vivo, and Samsung.

According to the report, global 5G handset shipments grew by 20% year-on-year (YoY) during 1H24.

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The rise was fueled by robust shipments from major brands in the budget segment, reflecting a broader trend where consumers in emerging markets are upgrading to 5G devices even at lower price points and increased availability, noted Prachir Singh, senior analyst at Counterpoint.

Among the regions, the Caribbean and Latin America (CALA) region experienced the fastest growth, with a 63% YoY increase. Key countries like Mexico and Brazil contributed significantly to this surge. Despite holding a 6% share of global 5G shipments in this period, CALA accounted for 14% of global net additions.

In contrast, the Asia-Pacific region dominated global net additions with 63% and held a 58% share of 5G shipments. Europe and the Middle East and Africa (MEA) also saw double-digit growth in 5G handset shipments.

In terms of global market share, Apple led 5G handset shipments, securing over 25% of the market due to solid sales of the iPhone 15 and 14 series. Samsung followed with more than 21% share, driven by its Galaxy A and S24 series. Apple and Samsung each occupied five spots in the top ten 5G models list for the first half of 2024, with Apple claiming the top four positions.

Xiaomi ranked third, with significant growth driven primarily by the Indian market. Xiaomi also experienced double-digit growth in MEA, Europe, and China. vivo also saw substantial growth in India, China, and other emerging Asian economies. Motorola was the fastest-growing brand among the top ten, showing strong performance across CALA, India, MEA, and North America.

Looking ahead, Research Director Tarun Pathak stated, “5G handset contribution to the overall handset market was over 54% in H1 2024, crossing 50% for the first time.”

Predicting that 5G share will cross 57% in 2024 and 65% in 2025, he further commented, “As the democratization of 5G handsets increases with increasing 5G penetration in lower price segments as well as increasing expansion of 5G networks, this trend will further grow. The ongoing global premiumisation trend will further fuel this growth.”

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Shubha Mitra
Shubha Mitra
Shubha is a journalist at EFY. She is keenly interested in India's evolving electronics ecosystem. Her focus revolves around government policies, legislation, and public-private partnerships related to the industry.

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