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Benzinga

Anusuya Lahiri

Apple iPhones Led Smartphone Sales As 5G Handsets Formed Over 50% Of Sales

Apple China AAPL BofA Oppo Pixaby Vivo Xiaomi Corp

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

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