According to market research firm Counterpoint, India will reach the tipping point of 5G-enabled smartphones in the country by the end of the year and 4G smartphones in the country will be driven down to secondary relevance due to the lower-price market.
In 2023, 5G will continue to push smartphone demand, Counterpoint added, even though India’s overall smartphone shipments are expected to decline due to component supply issues and macroeconomic factors.
A 5G network is expected to offer 10 times the speed of 4G in India, making it essential for emerging technologies such as self-driving cars.
Due to the escalating rate of adoption in emerging markets, Counterpoint expects that handsets less than 20,000 rupees ($241.55) will go up to 30% by 2023.
The Indian telecom giant Reliance (RELI.NS) is partnering with Alphabet Inc’s (GOOGL.O) Google to launch a budget 5G smartphone after emerging as the biggest bidder in the $19 billion spectrum auction in August.
In 2023, 5G smartphone shipments will surpass 4G smartphone shipments by the end of next year, according to Counterpoint Research.
Analysis firms believe 5G network availability and component supply shortages will ease by the end of 2023, leading to mass adoption.