• Global 5G handset shipments grew 20% YoY in H1 2024 as 5G penetrated lower price segments.
• The share of 5G handset shipments in overall shipments crossed 50% for the first time in H1 2024.
• India overtook the US in 5G shipments in H1 to become the second-biggest 5G handset market. Among the top five countries, India grew the fastest.
• Among regions, the Caribbean and Latin America (CALA) was the fastest growing in terms of 5G shipments. CALA accounted for 14% of global net adds in H1 2024.
• Apple led the 5G handset shipments globally, accounting for more than 25% share.

Seoul, Beijing, Boston, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi, Taipei, Tokyo – September 5, 2024

Global 5G handset shipments grew 20% YoY in the first half of 2024, according to the latest research from Counterpoint’s Market Monitor service. India overtook the US to become the world’s second-biggest 5G handset market for the first time, behind China.

Commenting on overall market dynamics, Senior Analyst Prachir Singh said, “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. India became the second-biggest 5G handset market during the first half, overtaking the US. The strong shipments from Xiaomi, vivo, Samsung and other brands in the budget segment were the main reason for this trend. Other emerging markets also witnessed high growth in 5G handsets. Consumers in emerging markets are looking at 5G handsets as an upgrade to their devices, even in the lower price segments.”

“The Caribbean and Latin America (CALA) region was the fastest-growing region, registering 63% YoY growth, driven by high growth in key countries like Mexico and Brazil. The CALA region accounted for 14% of global net adds despite having a 6% 5G shipment share in H1 2024. Asia-Pacific accounted for 63% of the overall global net adds and commanded a 58% 5G shipment share. In Europe and the Middle East and Africa (MEA) regions also, 5G handset shipments witnessed double-digit growth.”

Apple led the 5G handset shipments globally, accounting for more than 25% share, driven by strong shipments of the iPhone 15 series and 14 series. Samsung followed in the second position, capturing more than 21% share, driven by the Galaxy A series and S24 series. Apple and Samsung took five spots each in the top-10 list for 5G models in the first half of 2024, with Apple taking the top four spots. Xiaomi took the third spot, with India being its major driver. Xiaomi registered a triple-digit growth rate in India while also registering a double-digit growth rate in the MEA, Europe and China. For vivo also, India was the major growth driver along with China and emerging Asian economies. Among the top 10 brands, Motorola grew the fastest, posting strong growth in the CALA, India, MEA and North America markets.

Commenting on the near-term outlook for 5G shipments, Research Director Tarun Pathak said, “5G handset contribution to the overall handset market was over 54% in H1 2024, crossing 50% for the first time. 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 premiumization trend will further fuel this growth. According to our market outlook, 5G share will cross 57% in 2024 and 65% in 2025.” Feel free to reach us at [email protected] for questions regarding our latest research and insights.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

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