US sales of 5G smartphones will generate $1 billion revenue in 2019, according to a Consumer Technology Association (CTA) forecast.
The analysis predicts around 2.1 million 5G smartphones will be sold this year. By 2022, the CTA expects 76 percent of all smartphones purchased in the US will be 5G-enabled.
Steve Koenig, Vice President of Market Research at CTA, said:
“The future is bright for many tech products consumers already know and love, as stalwart revenue drivers including smartphones, laptops, and televisions continue to innovate.
2019 will mark the introduction of 5G-enabled devices and smartphones and next-gen screen technology such as 8K UHD televisions to the market.”
Samsung has committed to launching a 5G smartphone this year compatible with Verizon’s network. The company’s biggest rival, Apple, will not launch a 5G device until at least 2020.
Android manufacturers like Samsung are often “ahead of the curve” when it comes to supporting yet-to-be-established technologies. 5G networks this year will be limited, so it’s unlikely Apple fans will feel like they’re missing out.
However, some consumers making high-end smartphone purchases today will look to devices which offer some future-proofing. Apple consumers may skip this year’s model or look to an alternative which isn’t going to help slumping iPhone sales.
CTA expects the overall smartphone market in 2019 to reach $80 billion with 170.7 million devices shipped.
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