India has surpassed the US to become the second-biggest 5G handset market in the world, following China. This was revealed through a research conducted by Counterpoint’s Market Monitor service. The research also revealed a 20% YOY growth of global handset shipments in the first half of 2024.

“The strong shipments from Xiaomi, vivo, Samsung and other brands in the budget segment were the main reason for this trend,” Senior Analyst Prachir Singh informed.

Apple dominated global 5G handset shipments, holding over 25% of the market, thanks to strong sales of the iPhone 15 and 14 series. Samsung secured second place with more than 21% share, due to its Galaxy A and S24 series.

Both Apple and Samsung claimed five spots each in the top 10 list for 5G models in the first half of 2024, with Apple securing the top four positions. Xiaomi ranked third, with India serving as its key market driver.

Xiaomi achieved triple-digit growth in India, along with double-digit growth across MEA, Europe, and China. Vivo saw India as its primary growth engine, along with China and other emerging Asian markets. Motorola led the pack with the fastest growth, driven by strong performance in CALA, India, MEA, and North America.

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Commenting on this trend, Research Director Tarun Pathak said, “The ongoing global premiumisation trend will further fuel this growth. According to our market outlook, 5G share will cross 57% in 2024 and 65% in 2025.”