Chinese multinational technology company VIVO has ranked fourth on the global 5G market, according to the information revealed by market research institution TrendForce in a recent report, said a press release.
Since the beginning of this year, VIVO has been running head to head with Samsung in smartphone production, sales and market share.
VIVO overtook Samsung on the Indian technology market in the first quarter.
VIVO ranked fourth in 2020 in production and market share of 9 per cent.
According to the report, Chinese company Huawei is now at the top of the global market with 31 per cent share of the 5G handset market.
Apple secured with the second place a 30-per cent market share and Samsung the third place with a 12 per cent share of the market.
Two other Chinese conglomerates, Xiaomi and OPPO are right after VIVO with 8 per cent share.
According to the report, Huawei is expected to produce about 74 million 5G smartphones this year while Apple’s yearly 5G smartphone production is expected to total about 70 million units in 2020.
Samsung’s 5G smartphone production this year is forecasted at 29 million units and VIVO is expected to produce about 21 million units of 5G smartphone.
OPPO and Xiaomi’s yearly 5G smartphone production volumes are projected to reach about 20 million and 19 million units respectively.
The global 5G network coverage will be unlikely to surpass 50 per cent before 2025 as the current 5G infrastructure build-out is pushed back as the result of the coronavirus pandemic and completion of the coverage process may take longer.
The smartphone manufacturers are, nevertheless, continuing to compete amid the pandemic and as per the report, four Chinese companies will be in the top six on the 5G market by end of the year.
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