- Apple Inc’s (NASDAQ:AAPL) iPhones led the mobile industry to a landmark in January, as handsets with 5G cellular networking accounted for 51% of smartphone sales for the first time, Bloomberg reports.
- Recently, Apple launched a 5G model in its budget-friendly iPhone SE series, at half its average flagship device priced at $429.
- Chinese brands Xiaomi Corp (OTC:XIACY) (OTC:XIACF), Oppo and Vivo each generated ~10% of global 5G sales, the majority of which came in China.
- Also Read: BofA Analyst Is Bullish On Apple - See Why
- Apple’s key position in China helped drive its market-leading share of 37%.
- The 5G connectivity has been a critical enabler for autonomous driving and factory automation, with China being among the most aggressive nations in expanding its availability.
- China looks to push 5G coverage by adding 0.6 million base stations in 2022, elevating the total number to well above 2 million.
- Price Action: AAPL shares traded higher by 1.53% at $157.46 in the premarket on the last check Wednesday.
- Photo by lukgehr via Pixaby
