India has claimed a major milestone in its tech journey by surpassing the United States to become the world’s second-largest 5G handset market in 2024. In the first half (H1) of the year, global 5G handset shipments grew by a staggering 20 percent year-on-year (YoY), driven largely by a surge in affordable 5G devices. What makes this growth even more significant is that India now accounts for more than 50 percent of all mobile shipments, which are 5G-enabled for the first time in history! With tech giants like Xiaomi, Samsung, and vivo spearheading the charge, India’s rise is rewriting the global 5G narrative.
Apple’s Growing Presence in India
While India is making waves in 5G handset shipments, its role in Apple’s global supply chain is also gaining traction. Apple’s iPhone exports from India hit a staggering $5 billion in the first five months of FY25, marking a 54 percent increase from last year. This surge is driven by Apple’s decision to manufacture its flagship iPhone 16 Pro and iPhone Max models in India, with production expected to increase further in the coming months.
As Apple continues to ramp up its production in India, the country is becoming a major hub for iPhone exports, with more than $10 billion worth of iPhones exported to markets in Europe, West Asia, and the United States in FY24.
India’s 5G Boom: The Numbers That Matter
India’s recent triumph in the global 5G race is underpinned by some impressive numbers:
- 20 percent YoY Growth: Global 5G handset shipments surged in H1 2024, driven by increased availability in lower price segments.
- Over 50 percent Share: 5G handsets crossed the 50 percent mark of total mobile shipments globally for the first time.
- India’s Meteoric Rise: India surpassed the US to become the second-largest 5G handset market worldwide, trailing only China.
- Asia-Pacific Leads the Pack: This region contributed 63 percent of the total global net additions, commanding a massive 58 percent of 5G handset shipments.
The secret behind India’s rise to second place in the global 5G handset market? Accessibility. Leading smartphone manufacturers such as Xiaomi, Samsung, and vivo have made 5G affordable for millions of Indians by offering devices at competitive prices without sacrificing essential features. The result? A huge surge in demand across India’s metropolitan and Tier II cities, where consumers are looking to upgrade from their aging 4G devices to faster, more efficient 5G models.
Senior Analyst Prachir Singh of Counterpoint Research attributes this surge to budget-friendly 5G smartphones gaining popularity across India. “India’s rise in the 5G handset market is a direct result of the strong push from budget and mid-range 5G devices, which are now more accessible to a broader section of the population,” Singh explained.
The fact that 5G devices have penetrated the lower price segments is a game changer. Until recently, 5G smartphones were predominantly high-end, but with more affordable options hitting the market, Indian consumers are embracing the opportunity to upgrade to 5G devices.
What’s Fueling India’s 5G Surge?
Several factors have contributed to India’s rapid rise in the 5G space:
- Affordable 5G Handsets: The introduction of budget and mid-range 5G devices has opened the doors for a significant portion of India’s population to access next-gen technology.
- Xiaomi, vivo, and Samsung Leading the Charge: These brands have been instrumental in driving India’s growth in 5G handset shipments, particularly through their affordable yet powerful devices. Xiaomi registered triple-digit growth in the Indian market, while vivo also saw major success, with India as a key growth driver alongside China and other emerging Asian economies.
- 5G as a Major Upgrade: For many consumers in India, upgrading to a 5G handset is seen as a long-term investment in faster speeds, better connectivity, and future-proof technology.
The Global Picture
While India’s story is compelling, Apple continues to reign as the global leader in 5G handset shipments, commanding over 25 percent of the market share. This dominance is driven by the widespread success of the iPhone 14 and iPhone 15 series. Following closely behind is Samsung, with a 21 percent share, thanks to its popular Galaxy A series and flagship Galaxy S24 models. Together, Apple and Samsung account for 10 of the top 10 best-selling 5G models in H1 2024, cementing their positions as global market leaders.
However, Xiaomi is not far behind. The brand’s significant market presence in India and other key regions like the Middle East and Africa (MEA) has pushed it into the third spot globally. Xiaomi’s rise is particularly notable in India, where it has achieved triple-digit growth, highlighting the brand’s successful strategy in capturing the hearts and wallets of Indian consumers.
5G Goes Mainstream
5G is no longer confined to high-end smartphones. The budget segment is now seeing a significant shift towards 5G technology, especially in India and China, two of the world’s largest smartphone markets. In Q2 2024, 24 percent of all budget smartphones (priced under $150) were 5G-enabled—a remarkable 2.5x increase from the previous year.
Brands like Xiaomi and Samsung are leading this trend, with models like the Redmi 13C 5G and Galaxy A15 5G climbing the ranks of best-selling budget phones. This shift highlights how 5G is becoming a standard feature even in the sub-$150 smartphone category, making it more accessible to a broader audience.
What’s Next?
India’s 5G market is poised for even greater expansion. With more affordable 5G smartphones entering the market and increasing coverage of 5G networks, this trend shows no signs of slowing down. In fact, Research Director Tarun Pathak predicts that the share of 5G handsets in the global market will grow to 57 percent by the end of 2024 and reach 65 percent by 2025.
As 5G networks continue to expand across India, telecom companies are racing to offer better connectivity at lower prices, making it more appealing for consumers to switch to 5G. The democratization of 5G technology, coupled with the ongoing global trend of premiumization in the smartphone industry, will only fuel this growth further.
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