Even as the trials of 5G technology have faced a bumpy ride the sales of 5G enabled smartphones in India have smoothened up for a smooth ride.
According to a recent report by phone brand Realme and Counterpoint Research the share of 5G smartphone sales in the India market has reached close to 7% in the January-March period and is forecasted to hit 21% for the full year 2021.
“Even without a commercial network, India's appetite for 5G is growing,” the report suggested.
“The biggest drivers of entry-to-mid tier segments are likely to come from Asia with India launching 5G in 2022 and Indonesia entering its growth phase. With a combined population of over 1.6 billion these markets – in particular India – will drive 5G sales growth through the long term,” the research report added.
Speaking on the findings, Peter Richardson, VP & Research Director, Counterpoint Research, said “Every generation of cellular technology has seen a different mix of players taking the lead. In 3G it was Nokia, with Samsung taking over in 4G. As we look ahead, the list of players is growing more diverse. Realme is one of the fastest-growing brands in the 5G era, thanks to its appeal to younger users who are bound to form a core part of the 5G market.”
According to the report forecast, by the end of 2022, one out of every two smartphones sold globally will be 5G. The average selling price (ASP) will also shrink by double-digit percentages through the foreseeable future.
“Over the past two quarters, almost one out of every five 5G smartphones came from the $200-$299price band, with over one-third at $399 or below. This segment will continue to gain share as the mid-tier expands inline with emerging market rollouts and further expansion occurs within the budget $100-$199 price tier,” the report said.
5G phone sales have already crossed the 50% mark in key developed markets like Korea, China, North America, with Europe and Japan following closely. In Q1 2021, these advanced markets accounted for the bulk of 5G devices being sold globally (86% share) despite having a significantly smaller share of sales across all technologies (53%).
“5G will continue to grow steeply as developed markets see adoption levels approaching 80%-90% and emerging markets ramp up as network rollouts begin in earnest.”
Meanwhile, Madhav Sheth, Vice President, Realme and Chief Executive Officer, Realme India and Europe said, “we will also expand our product portfolio to offer affordable devices without compromising on quality and premium flagship products leading on technological innovation.”