India Becomes the World's Second Largest 5G Smartphone Market, Xiaomi Fuels Growth
India Becomes the World's Second Largest 5G Smartphone Market, Xiaomi Fuels Growth
India Becomes the World's Second Largest 5G Smartphone Market, Xiaomi Fuels Growth
Kuaitech (a Chinese tech news site) reported on September 11th that according to Counterpoint Research, global 5G smartphone shipments grew by 20% year-over-year in the first half of 2024. India surpassed the US to become the world's second-largest 5G smartphone market, second only to China.
The report reveals that global 5G smartphone shipments grew by 20% year-over-year in the first half of 2024. Apple, fueled by the strong sales of iPhone 15 and 14 series, holds the lead in global 5G smartphone shipments, accounting for over 25%. Samsung follows closely, with a market share exceeding 21% thanks to the robust shipments of the Galaxy A and S24 series. Xiaomi ranks third, with the Indian market being a key driver of its growth.
In the Indian market, Xiaomi has achieved a triple-digit growth rate, becoming a significant force in propelling the growth of India's 5G market. Analysts attribute Xiaomi's success in India to its strong brand influence, diverse product portfolio, and competitive pricing strategies. Xiaomi has focused on launching affordable 5G smartphones targeted at young users in the Indian market and actively expanded its offline channels to provide Indian users with a more convenient purchase experience.
Counterpoint Research analysts state that 5G smartphones contributed over 54% to the overall smartphone market in the first half of 2024, surpassing the 50% mark for the first time. As 5G smartphones penetrate lower price segments and 5G network expansion continues, the adoption of 5G smartphones is poised to grow further. Analysts predict that 5G smartphone market share will exceed 57% in 2024 and reach 65% in 2025.
India emerging as the world's second-largest 5G smartphone market reflects the country's enormous market potential and increasing 5G demand. As 5G technology continues to evolve, the Indian market is expected to maintain rapid growth, becoming a significant growth engine in the global 5G smartphone market.
Furthermore, Xiaomi's success in the Indian market showcases the competitiveness of Chinese smartphone brands on the global stage. As Chinese smartphone brands continue to invest in technological innovation and marketing efforts, more Chinese brands are expected to achieve success in the global market.
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