A new analytical report this morning claims  that global cumulative shipments of 5G smartphones surpassed 2 billion units in Q4 2023. This milestone was achieved in less than five years, the shortest period when compared to previous technologies like 4G or 3G. It took 4G smartphones six years to reach this mark. Nearly 70% of all 5G shipments came from developed smartphone markets such as the U.S., China, and Western Europe. Apple and Samsung were the top 5G smartphone brands, shipping over 1 billion units cumulatively.

According to Counterpoint Research, smartphone brands have heavily promoted 5G capabilities and features while differentiating their offerings in a highly competitive market. The launch of the iPhone 12 series, the first 5G-capable iPhones, significantly accelerated 5G adoption, taking global 5G shipments to above 100 million units in a single quarter for the first time in Q4 2020. The momentum continued and the shipments hit a new record in Q4 2023, reaching 200 million units in a single quarter.

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The affordability and accessibility of 5G smartphones have improved due to the narrowing price gap between 5G and 4G chipsets, along with strategic component selection by OEMs to maintain the bill of materials (BOM) cost. Besides, chipset players such as MediaTek and Qualcomm have helped smartphone OEMs to offer affordable 5G phones by launching entry-level 5G chipsets.

Developed markets are nearing saturation, with the contribution of 5G smartphones to the total shipments crossing 80% in 2023 led by the premium segment.