VIVO ranks 4th in global 5G smartphone market

The Chinese multinational technology company VIVO ranks 4th place in global 5G smartphone production and market share in 2020.

TrendForce, a market research institution, recently revealed the information in a report, said a press release.

According to the report, Chinese company Huawei is now at the top of the global market. Apple and Samsung secured the 2nd and 3rd place respectively.  Huawei captured 31% of the 5G handset market, followed closely by Apple with 30%. Samsung and Vivo, had 12% and 9%, respectively. Two other Chinese conglomerates, Xiaomi and OPPO are right after VIVO with 8% share.

According to the report, Huawei is expected to produce about 74 million 5G smartphones this year. 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. VIVO is expected to produce about 21 million units of 5G smartphone where 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% before 2025 as the current 5G infrastructure build-out is pushed back as the result of running coronavirus pandemic and the complete coverage process may take longer. However, the smartphone manufacturers are continuing the competition amid pandemic situation. According to the report, end of the year, four Chinese companies will be in the top six in the 5G market.