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In 2020, 5G market revenue in China was estimated to be around *** trillion yuan, which was expected to surge to *** trillion yuan by the end of the next decade. The market revenue is predicted to grow the most in 2021, doubling the revenue in just the third year since the introduction of 5G in China.

Global 5G market

Along with the rapid advance of mobile internet technology in the last decade, the introduction of 5G connection has been long awaited in the last few years. It was forecasted that in the next five years, the number of mobile 5G subscriptions worldwide will rise exponentially from ** million to almost two billion, among which North East Asia alone was expected to account for almost *** billion, close to triple that of North America.

Chinese 5G smartphone market

Since the introduction of 5G smartphones in the third quarter of 2019, sales in China has skyrocketed from *** million units to over ** million units in just three quarters. As such models are usually the latest flagship models of vendors, these smartphones tend to be pricier. However, the prices also seemed to be decreasing over time with the market getting increasingly competitive.