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5G New Phone Price Trends for 2024

The global smartphone market is witnessing significant growth in 2024, largely driven by the increasing adoption of 5G technology. As 5G networks continue to expand, consumers are eagerly embracing 5G-enabled smartphones across various price segments. In this article, we’ll delve into the 5G new phone price trends for 2024, covering the latest market dynamics, popular models, and affordability across different segments.

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Global Smartphone Shipments and 5G Adoption

In the second quarter of 2024, global smartphone shipments grew by an impressive 6.5% year-over-year, reaching 285.4 million units. This growth is primarily attributed to the increasing demand for 5G smartphones worldwide. As more countries roll out 5G infrastructure, consumers are keen to experience the enhanced connectivity and faster speeds offered by 5G new phones.

 

Price Segments and Trends

 

1. Low-End Smartphones

The low-end smartphone segment, particularly devices priced under $150, has experienced a surge in demand. This segment witnessed a remarkable 33% year-over-year growth, with shipments rising from 90 million in Q1 2023 to 120 million in Q1 2024. Ultra-low-cost phones priced at $90 or less have seen an even more impressive 87% year-over-year growth. Popular models in this category include the Realme C55, Redmi 12C, and Samsung Galaxy M14 5G.

 

2. Mid-Range Smartphones

While the mid-range segment, with phones priced between ₹15,000 and ₹30,000 (approximately $180-$360 USD), experienced a decline in early 2023, it has not fully recovered by 2024. However, this category still offers a good balance between 5G new phone price and features. Notable mid-range smartphones include the Poco X5 Pro, OnePlus Nord CE 3 Lite, and Vivo V27.

 

3. Premium Smartphones

The premium segment, featuring phones priced above ₹30,000 (approximately $360 USD), has seen year-over-year growth driven by flagship models like the Samsung Galaxy S24 series. Top contenders in this category include the iPhone 15 Pro Max, Samsung Galaxy S24 Ultra, and OnePlus 11 Pro.

 

Specific 5G Phone Models and Their Features

Let’s take a closer look at some of the standout 5G new phone models in 2024 and their key features:

 

Samsung Galaxy S24 Ultra

Specifications

Details

Price

$1,299

Display

6.8-inch AMOLED with 2,600 nits of brightness

Battery

5,000mAh

Processor

Qualcomm Snapdragon 8 Gen 3

RAM

Up to 12GB

Storage

Up to 1TB

Camera

50MP telephoto lens with 5x optical zoom

Additional Features

Titanium frame, Corning Gorilla Armor, S Pen stylus, excellent 5G performance across major carriers

 

OnePlus 12

Specifications

Details

Price

Starting at $899

Display

6.8-inch AMOLED with 120Hz refresh rate

Battery

5,400mAh

Processor

Qualcomm Snapdragon 8 Gen 3

RAM

Up to 12GB

Storage

Up to 512GB

Camera

Triple camera setup with a 50MP main lens

Additional Features

Aggressive trade-in offer, fast charging

 

Google Pixel 9 Pro XL

Specifications

Details

Price

$1,099

Display

6.7-inch

Battery

5,060mAh

Processor

Google Tensor G4

Storage

Up to 1TB

Camera

Highly capable camera system

Additional Features

Excellent battery life, long-term support commitment from Google, covers all major 5G bands

 

Apple iPhone 16 Pro Max

Specifications

Details

Price

$1,199

Display

6.9-inch

Battery

Estimated 4,323mAh

Processor

A18 Pro Bionic

Storage

Up to 1TB

Camera

Best cameras on an iPhone

Additional Features

Top LTE 4G coverage, C-band, sub-6GHz, and mm Wave 5G spectrum support, outstanding battery life

 

Market Dynamics and 5G Penetration

Global 5G handset shipments grew by 20% year-over-year in the first half of 2024, with India overtaking the US to become the second-largest 5G handset market after China. This growth is driven by the increased availability of 5G new phones in the budget segment. The Caribbean and Latin America region saw the fastest growth, with a 63% year-over-year increase in 5G handset shipments. Asia-Pacific accounted for 63% of the overall global net adds and commanded a 58% 5G shipment share.

 

Apple led the 5G handset shipments globally, capturing more than 25% of the market share, followed by Samsung with over 21% share. Xiaomi also saw significant growth, particularly in India.

 

Trade-In and Upgrade Trends

The growing popularity of trade-in and upgrade programs is influencing 5G new phone prices. The average trade-in value for Apple iPhones reached $215, while Android smartphones had an average trade-in value of $103.45, up 37% from Q1 2024. These programs make it more affordable for consumers to upgrade to the latest models.

 

Impact of 5G on the Secondary Market

 

The rollout of 5G infrastructure in 101 countries by January 2024 is expected to positively impact the secondary smartphone market. 5G devices can operate on both 5G and 4G networks, making them more appealing in the secondary market.

 

Conclusion

 

As the global smartphone market continues to evolve in 2024, 5G technology remains a key driver of growth and innovation. With the increasing adoption of 5G networks and the availability of 5G new phones across various price segments, consumers have a wide range of options to choose from. Whether you’re looking for a budget-friendly device or a premium flagship, there’s a 5G smartphone that meets your needs and budget.

 

When considering a new 5G smartphone, it’s essential to explore the latest offerings from leading brands and compare their features, specifications, and prices. Additionally, keep an eye out for attractive trade-in and upgrade programs that can make your 5G new phone purchase more affordable.

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As we move forward in 2024, the 5G smartphone landscape continues to evolve, bringing exciting new possibilities and enhanced connectivity to users worldwide.

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