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The price of fifth-generation mobile network phones is expected to drop to CNY1,500 (USD213) next year and thus spur global 5G mobile phone sales past the 200-million unit post.
China will produce more than half of these, according to Newton, Massachusetts-based global research firm Strategy Analytics.
World shipments of handsets with the new communications standard jumped from 1.8 million in the second quarter to 4.3 million in the third. South Korea-based Samsung Electronics delivered the most of these to seize three-quarters of the market. South Korea’s LG Electronics and the Vivo brand made by Dongguan, Guangdong-based Vivo Communications Technology ranked second and third with 10 percent and 9 percent, respectively, Strategy Analytics found. Chinese producers shipped 700,000 5G sets in the second and third quarters to claim a mere 17 percent of the global total.
“China’s 5G phone shipments make up a small portion of world’s total due to the phones’ high prices and limited 5G network coverage, but they will grow explosively next year,” Linda Sui, Strategy Analytics’ director of global smartphone strategies, told Yicai Global.
As 5G mobile phones gain in popularity, their average price has gradually dropped from USD1,153 in the second quarter to USD994 in the third.
“The price of 5G terminals will plunge next year, with the lowest hitting CNY1,500,” Sui also predicted.
The minimum price of the Redmi K30 5G mobile phone Xiaomi released this week is CNY1,999. The K30 is the world’s first 5G product equipped with Qualcomm’s Snapdragon 765G chip.
Global shipments of 5G smartphones will reach 13.5 million units this year and 253 million next year in a nearly 20-fold rise, a recent study by London-based information service provider IHS Markit projected.
Source: yicaiglobal.com
