With the average selling prices (ASP) likely to continue declining by double-digits in the near future, it is expected that one out of every two smartphones sold globally will support 5G by the end of 2022, a new report showed on Monday.

In Q1 2021, within just one year after the launch of the world’s first commercial 5G network, almost one out of every three smartphones sold worldwide was supported by 5G.

Developed markets have been driving 5G adoption. However, this is expected to change as more emerging markets are starting to launch commercial 5G services, according to a white paper released by smartphone brand realme and Counterpoint Research.

In 2020, 5G phones in the low-to-mid-range price segments accounted for nearly 40 per cent of all 5G devices sold.

“It’s encouraging to learn that the global adoption rate of 5G continues to grow steadily with developed markets experiencing adoption levels approaching 80 per cent-90 per cent while emerging economies are set to become the next big growth driver of 5G,” said Sky Li, CEO, realme.

realme first became one of the top 10 5G smartphone vendors in Q1 2020, due to the company’s strong online presence and robust portfolio across the mid-end segment.

“We will also expand our product portfolio to offer affordable devices without compromising on quality and premium flagship products leading on technological innovation,” said Madhav Sheth, Vice President, realme and Chief Executive Officer, realme India and Europe.

In the highly-competitive $100-$199 wholesale ASP band, realme ranked third, while also gaining significant market share in the $200-$299 mid-end range.

“In 3G, it was Nokia, with Samsung taking over in 4G. As we look ahead, the list of players is growing more diverse. realme is one of the fastest growing brands in the 5G era, thanks to its appeal to younger users who are bound to form a core part of the 5G market,” said Peter Richardson, VP and Research Director, Counterpoint Research.