Goldman Sachs predicts sale of over 200 million 5G phones this year

China Mobile 5G

According to a Goldman Sachs report on Hong Kong Economic Journal, the conservative estimate for the global 5G smartphone market will reach more than 200 million units. This value is about 20 times more than the sales figure of 2019.  In addition, the Chinese market which has the largest number of phone users in the world will accelerate 5G base stations launch. According to estimates, there will be about 1 million new 5G base stations in China this year. This is higher than the original 600,000 prediction by Goldman Sachs.

Goldman Sachs on 5G

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According to previous reports, in 2019, 32 countries and regions around the world will realize the commercial application of 5G networks. In addition, 60 networks will make 5G commercially available. By the end of 2019, the number of global 5G networks will reach 65, with more than 200 terminals, 1 million base station shipments, and more than 10 million users.

The development of 5G is already at its advanced stages and many regions are set to fully implement 5G. However, there are still many parts of the world that will make do with 4G. China and Chinese companies are clearly ahead in the development of 5G. Although South Korea was the first to commercially launch this new generation network, it doesn’t have the numbers to compete with China. The US is clearly behind China in 5G development. Except to comes out with some amazing development, it should be looking forward to 6G.

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