Global shipments of 5G smartphones will exceed 2 billion units by 2023

Global shipments of 5G smartphones will exceed 2 billion units in the fourth quarter of 2023, with Apple and Samsung leading the way, according to a new report on Friday.

According to Counterpoint Research, this was achieved in less than five years, the shortest period compared to previous technologies such as 4G and 3G. It took him six years for 4G smartphones to reach this level.

“5G smartphones are becoming more affordable as the price gap between 5G and 4G chipsets narrows and OEMs (original equipment manufacturers) strategically choose components to maintain bill of materials (BOM) costs. Price and accessibility have improved,” the analyst said.

Approximately 70% of all 5G shipments will come from developed smartphone markets such as China, the United States, and Western Europe. Apple and Samsung have shipped more than 1 billion units in total.

According to the report, smartphone brands have heavily promoted 5G features and capabilities while differentiating their products in a competitive market.

The launch of the iPhone 12 series, the first 5G-enabled iPhone, significantly accelerated 5G adoption, with global 5G shipments exceeding 100 million units in a single quarter for the first time in Q4 2020. This momentum continued, with shipments reaching an all-time high. In the fourth quarter of 2023, it broke records, reaching 200 million units in a single quarter.

As explained by analysts, 5G smartphones have all the necessary elements to penetrate the affordable segment of emerging markets. Emerging markets such as India and Southeast Asia will therefore drive billions of 5G smartphone shipments in the coming years.