The popularity of 5G smartphones has grown exponentially since the phones supporting 5G technology became very common. Samsung and most of the Chinese companies are already producing very cheap 5G smartphones and market research firm Canalys has said that the number will hit 278 million units this year.
Out of these 278 million phones, 201 million will come from China, 42 million from the USA, and 31 million from Europe, the Middle East, and Africa. According to the Canalys, the rapid commercialization of 5G technology, especially in China is one of the key factors for the fast growth of the 5G smartphones market.
The Canalys reported that 5G in Europe is expected to drop down, because of Samsung’s and Apple’s presence in this region, reaching $765 in 2021 and $477 in 2024.
At the beginning of 2020, we didn’t find any 5G phones under $300 in the market. But after a few months, we now have 5G smartphones that are available around $250 in the market. Chinese company Realme has the cheapest phone with 5G support with a price of less than $150 in China.
The firm confirms that the overall smartphone volumes are subjected to a decline of 10.7% in 2020 compared to 2019. While a rebound of 9.9% is expected in 2021 with the market to reach 1.3 billion smartphones.
Shengtao Jin, one of the analysts from Canalys says:
“The economies of scale provided by the China market will allow the vendors to launch more affordable 5G smartphones in other countries, even if the 5G environment is not fully present in those markets. It is expected that by 2021, nearly 60% of the shipment of the phones supporting 5G technology in China will be less than $400, while 5G penetration in China will reach 83% in the next 12 months.“
Senior Canalys analyst, Ben Stanton says:
“Global smartphone shipments are rebounding rapidly in many markets ahead of the economic and retail consumption recovery.“