5G smartphone shipments in India have impressively hit the 100 million mark within three years, outpacing the adoption rates of 3G and 4G technologies.
Per a new CMR study, this surge is due to the rapid expansion of 5G networks, increased consumer awareness, and the increasing availability of affordable 5G smartphones. However, this trend also suggests that despite high prices, brands like Apple and Samsung offering advanced 5G smartphones are likely to attract more customers.
What do the numbers show? Projections show that the 5G smartphone market will grow at a CAGR of around 23% until 2027, and by that time, most of the smartphones shipped are expected to be 5G phones.
As per the report, despite the 5G boom, 2G and 4G feature phones will continue to coexist, catering to consumers who prioritise basic communication needs.
However, driven by consumers who prioritise advanced features in their phones, the market share of Super Premium and Uber Premium smartphones is projected to rise by 8-9% and 2-3% respectively by 2027.
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As 5G technology gains momentum, the report anticipates a decrease in 4G phone shipments. The shift towards 5G smartphones is due to their advanced features like improved camera capabilities, higher refresh rate displays, and better battery management. As per the report, by early 2024, 5G smartphones are expected to be introduced in the sub-10k price range, making them more accessible to the masses.
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