Global 5G smartphone penetration will reach 72% in TechInsights:2024 year.

CTOnews.com October 7 news, research institutions TechInsights issued an article this afternoon on the global 5G mobile phone market analysis and outlook.

The global 5G smartphone market will return to growth in 2024, it said. As for the forecast of market share, Apple is "slowly declining", but its strong sales performance through the iPhone this year and next will remain number one in the world. At the same time, Samsung and Xiaomi will rank second and third in the global 5G mobile phone market respectively.

At present, the growth rate of the 5G smartphone market is slowing, but it will continue to grow positively this year and next. Overall, the global penetration rate of 5G smartphones will reach 72% in 2024. The penetration rate of 5G millimeter wave smartphones will reach 7.3%.

CTOnews.com previously quoted a report in Taiwan's Electronic Times in early September that Apple ordered fewer iPhone 15 than iPhone 14, which may be due to the expected weakness in the global smartphone market in the second half of 2023. IPhone's supply chain is already preparing for the autumn release of iPhone 15, but may not produce as many devices as it did in 2022.

Smartphone makers are reportedly lowering their expectations for product demand and reducing production levels in the second half of 2023, which also applies to Apple and its new iPhone range of phones. Apple ordered 80 million to 90 million smartphones for the iPhone 15 series in the second half of 2023 in August, down from 90 million to 100 million in August for the iPhone 14 in the second half of 2022, according to senior analyst Luke Lin.