India overtook the U.S. to become the world’s second-biggest 5G handset market for the first time as the global 5G headset shipments grew 20% YoY in the first half of 2024, market intelligence firm Counterpoint’s latest data shows.

India saw a 60% increase in shipments in H1 2024 compared to the same period last year. The growth was the highest among major economies. The U.K. saw 33% growth, 5G headset shipment growth was 14% in China and 2% in the US. Japan saw a decline of 2% in 5G headset shipments.

The significant growth of 5G smartphone shipments has been attributed to “strong shipments” from brands in the “budget segment”, primarily led by Xiaomi, Vivo, and Samsung. “5G handset shipments have been growing steadily and with the increased availability of 5G handsets in the budget segment, the emerging markets have witnessed high growth in this segment,” says Senior analyst Prachir Singh.

Consumers across emerging markets also look at 5G handsets as an upgrade to their devices, even in the lower price segments, says Singh.

Region-wise, the Caribbean and Latin America (CALA) region was the fastest-growing region, registering 63% YoY growth, driven by high growth in key countries like Mexico and Brazil. Asia-Pacific accounted for 63% of the global net adds and commanded a 58% 5G shipment share. In Europe, the Middle East, and Africa (MEA), 5G handset shipments witnessed double-digit growth, according to Counterpoint data.

Among companies, Apple led the 5G handset shipments globally, garnering a 25% share, driven by strong shipments of the iPhone 15 series and 14 series. Samsung followed at the second position, capturing over 21% share, driven by the Galaxy A series and S24 series.

Apple and Samsung took five spots each in the top-10 list for 5G models in the first half of 2024, with Apple taking the top four spots.

Xiaomi took the third spot, with India being its major driver, and registered a triple-digit growth rate in India and a double-digit growth rate in the MEA, Europe and China.

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India tops U.S. to become 2nd-biggest 5G smartphone market in H1