India has surpassed the US to become the second-largest market for 5G handsets, according to the latest research from Counterpoint’s Market Monitor service. The shift occurred during the first half of 2024, driven by a surge in budget 5G handsets. Notably, brands like Xiaomi, vivo, and Samsung have contributed to this growth by offering affordable 5G options.

Deepu John, Qualcomm’s Senior Director of Product Management, shared insights into the challenges and innovations behind making low-cost 5G solutions. The Snapdragon 4s Gen 2, designed to bring down 5G handset costs to $99, represents a significant leap. John explained that reducing costs while maintaining features required a fundamental redesign of their modems, emphasizing that incremental changes were insufficient.

Qualcomm’s approach involves not just improving existing technologies but creating entirely new ones to enable widespread 5G adoption. As 5G becomes more affordable, the expansion into lower price segments and the growth of 5G networks are expected to continue.

Looking ahead, Qualcomm plans to apply a similar strategy to future technologies like 6G. Historically, the company has successfully transitioned high-end technologies to more affordable solutions over time.

In the global market, 5G handset shipments grew by 20% year-on-year in the first half of 2024. In India, MediaTek led the smartphone chipset market with a 54% share, while Qualcomm dominated the premium segment with a 33% share. The INR 20,000-INR 30,000 (~$240-$360) and >INR 45,000 (~$540) price bands experienced the fastest growth, with increases of 25% and 24% YoY, respectively.