Global 5G smartphone shipments will exceed 2 billion units in the fourth quarter of 2023. | Photo credit: Reuters
Global shipments of 5G smartphones are set to surpass 2 billion units in the fourth quarter of 2023. This milestone was achieved in less than five years, the shortest period compared to previous technologies such as 4G and 3G.
Approximately 70% of all 5G shipments came from developed smartphone markets such as China, the United States, and Western Europe. Global market research firm Counterpoint announced in a press release that major smartphone manufacturers such as Apple and Samsung have emerged as the top 5G smartphone brands, with cumulative shipments exceeding 1 billion units.
The narrowing price gap between 5G and 4G chipsets has also increased the affordability and availability of 5G smartphones, while lower component costs from major manufacturers such as Qualcomm and MediaTek have enabled manufacturers, especially Chinese brands, to launch entry-level 5G devices and broaden adoption.
The adoption of 5G smartphones has been accelerated by aggressive promotion by smartphone brands with a focus on 5G performance and features. The launch of the iPhone 12 series has significantly accelerated 5G adoption, with shipments exceeding 100 million units in a single quarter for the first time in the fourth quarter of 2020. This momentum will continue, with shipments expected to set a new record in the fourth quarter of 2023, reaching 200 million units in a single quarter, the release stated.
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Developed markets are nearing saturation, led by the premium segment, which will account for over 80% of total 5G smartphone shipments by 2023. Further acceleration in 5G deployment by operators has further boosted consumer awareness and demand for 5G capabilities in developing countries.
Even in markets where 5G networks are not yet fully operational, consumers will choose 5G smartphones to future-proof their investment, and emerging markets such as India and Southeast Asia are expected to lead the way in shipping 1 billion 5G smartphones in the coming years.
