Last Update: December 27, 2022, 14:59 IST
5G network launch means more people are buying 5G phones in India
India finally got 5G services in select cities this year and now phone makers will majorly focus on offering 5G-enabled devices in the country next year.
As India India Cellular and Electronics Association (ICEA) president Pankaj Mahendru on Monday said the ride on 5G is now on the rise with over 50 cities and towns now enjoying the new technology, adding that by the end of 2023, 75-80 per cent of the new Smartphones will be launched. 5G-enabled.
5G services were launched by the Prime Minister Narendra Modi On 1 October.
The telecom service providers have launched the service in select cities and have plans to cover the entire country by late 2023 or early 2024.
“India as a nation is an early adopter of 5G technology. This 5G technology has opened up a huge opportunity for a new generation of telecom equipment manufacturers, application providers and others, including Internet of Things (IoT), machine-2-machine (M2M) and healthcare.”
The mobile device ecosystem was the starting point for manufacturing 5G phones.
Even before the launch of 5G services, around 80-100 million 5G-compatible phones were already in the market. According to ‘Ericsson Mobility Report’, 5G will represent around 53 per cent of mobile subscriptions in India with 690 million users by 2028.
5G subscriptions in India were expected to reach around 31 million by the end of 2022.
On the semiconductor industry, Mahendru said the Indian semiconductor market stood at $15 billion in 2020 and is expected to reach $63 billion by 2023 at 30 per cent CAGR.
“This is a huge opportunity for the country. The government is very focused on setting up the entire semiconductor ecosystem in the country from semiconductor fabs, compound semiconductors, discrete semiconductors, assembly, testing, marking and packaging (ATMP) units, etc.”
The India Semiconductor Mission offers an incentive outlay of Rs 76,000 crore for the development of the semiconductor ecosystem in India, offering financial support of 50 per cent of the project cost.
“We feel the next focus should be on skilling the workforce for the sector and encouraging downstream value chains in semiconductor manufacturing,” he added.
read all Latest Tech News Here
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)