Overview:
The contribution of 5G smartphones to overall smartphone sales has been increasing over the past few years. However, after the initial hypergrowth phase in 2020, the YoY growth of 5G smartphone sales started slowing down as most of the mature markets almost reached saturation. The next wave of 5G growth is set to come from emerging markets where customers are more price-sensitive. Therefore, the key to achieving 5G democratization is to enter the lower price bands.