India Surpasses US as Second-Largest 5G Smartphone Market

India has recently overtaken the United States to become the second-largest market for 5G smartphones globally, according to a report by Counterpoint Research. With a 13% share of the global market, India now ranks just behind China, which holds a significant 32% share. The US has fallen to third place with a 10% market share, highlighting a shift in the competitive landscape of the 5G smartphone sector. The growth in India's 5G smartphone market can be attributed to strong sales from key brands such as Samsung, Vivo, and Xiaomi, particularly in the budget segment. The increasing availability of affordable 5G handsets has driven demand, making it easier for consumers in emerging markets to adopt this technology. Prachir Singh, a senior analyst at Counterpoint Research, noted that the steady growth in 5G handset shipments reflects this trend. Apple remains the leader in global 5G handset shipments, commanding over 25% of the market, followed by Samsung with 21%. Xiaomi has also seen impressive growth, achieving a triple-digit increase in its sales within India. This competitive environment has led to a significant rise in the contribution of 5G handsets to the overall smartphone market, surpassing 54% in the first half of 2024. The increasing acceptance of 5G technology in India signifies a broader trend towards digital transformation in the country. As more consumers embrace 5G, it is expected to further enhance connectivity and drive innovation across various sectors, positioning India as a key player in the global smartphone market.