Counterpoint: Global 5G mobile phone shipments to grow 20% year-on-year in the first half of 2024

According to the latest research from Counterpoint Market Monitoring Service, global 5G mobile phone shipments increased by 20% year-on-year in the first half of 2024. India surpassed the United States for the first time and became the world's second largest 5G mobile phone market after China.

Commenting on the overall market dynamics, Senior Analyst Prachir Singh said, "5G mobile phone shipments have been growing steadily, with emerging markets witnessing high growth in this segment as the availability of 5G phones increases. Strong shipments from Xiaomi, vivo, Samsung and other budget phone brands are the main reason for this trend. Other emerging markets have also witnessed high growth in 5G phones. Consumers in emerging markets are viewing 5G phones as an upgrade for their devices, even in lower price segments. The Caribbean and Latin America region was the fastest growing region, with a year-on-year growth of 63%, driven by high growth in key countries such as Mexico and Brazil. Although the region will have a 6% share of 5G mobile phone shipments in the first half of 2024, it will still account for 14% of the global net growth. Asia Pacific accounted for 63% of the global net growth and 58% of the 5G mobile phone shipment share. 5G mobile phone shipments in the Europe, Middle East and Africa region also saw double-digit growth."

Driven by strong shipments of the iPhone 15 series and 14 series, Apple led in global 5G mobile phone shipments, accounting for more than 25%. Samsung followed closely behind, accounting for more than 21% of the market share. Xiaomi ranked third, with India as its main driving force. Xiaomi achieved triple-digit growth in India and double-digit growth in the Middle East, Europe and China. For vivo, India was the main growth driver along with China and emerging economies in Asia. Among the top ten brands, Motorola grew the fastest, with strong growth in Central Asia, India, the Middle East and North American markets.