16 Mar 2022
Apple’s iPhone Leads 5G Handsets to Surpass 50% Milestone in Market Sales
The Index Today
Apple Inc.’s iPhones have been vastly instrumental in aiding 5G devices to seize more than half the smartphone market in sales in January, reported Bloomberg News.
As per data released by Counterpoint Research, 5G handsets accounted for 51% of sales in the smartphone market. 5G technology is relevant to facilitating advanced functions including factory automation and driverless cars, making it more attractive to users.
China has been pioneering the shift to 5G technology with Apple leading in the world market by 37%, while local smartphone brands like Oppo, Vivo, and Xiaomi Corp. making up 10% of 5G sales globally. This comes as Apple recently introduced a 5G model for its iPhone SE series with prices starting at $429 — almost half the average cost for its devices — thereby potentially enabling its retention as the market leader.
Despite pioneering the production of 5G smartphones in 2019, Samsung Electronics Co. was relegated to the 12% market share mark on account of its collapse in China.