India beats US, is now the world’s second-largest market for 5G smartphones; here’s what driving the growth

India has overtaken the US to become the world’s second-largest market for 5G smartphones, according to Counterpoint Research. Global shipments of these devices grew by 20% year-over-year in H1 2024. India saw a significant rise of 60%, driven by strong sales from brands like Xiaomi, vivo, and Samsung in budget segments.