China leading in global 5G smartphone market
Global 5G smartphone sales will hit almost 280 million units this year, with about 62 percent coming from China, researcher Canalys said in a report.
5G devices and services have become catalysts and growth engines in the face of challenges posed by the pandemic, covering digital consumption and industrial applications, analysts said.
Global smartphone sales are expected to decline 10.7 percent this year but 5G smartphone sales will hit 278 million units, a 95 percent growth year on year. China’s 5G smartphone sales are expected to hit 172 million units this year, according to Canalys.
Chinese smartphone vendors are also expanding rapidly in the overseas markets.
“The economies of scale provided by the China market will allow vendors to launch more affordable 5G smartphones in other countries, even if 5G infrastructure in those markets is not fully ready,” said Jin Shengtao, a Canalys analyst, said.
In August, China’s 5G smartphone sales reached 16.2 million units, accounting for 60 percent of total mobile phone sales. In the first eight months, 5G sales reached 93.7 million units with 141 new 5G models, said a report from the Ministry of Industry and Information Technology on Thursday.
By next year, it is expected that nearly 60 percent of 5G smartphone shipments in China will be cheaper than US$400 while 5G penetration in China will reach 83 percent in the next 12 months, according to Jin.