Phone vendors will sell 2.1 million units of 5G smartphones in the US and gain $1 billion revenue in 2019, according to the Consumer Technology Association (CTA).
Research firm Ovum earlier predicted that 5G connections will reach 416,000 globally in 2019 and 11 million in 2020, 84 million in 2021 and 400 million in 2022.
76 percent of all smartphones sold in the US will be 5G-enabled by 2022, according to the Consumer Technology Association (CTA).
Samsung has already tied up with Verizon to launch 5G smartphones that will support its 5G mobile network. Apple will not be able to launch its 5G iPhone till 2020, according to earlier media reports.
AT&T, Verizon and T-Mobile are gearing up to launch 5G smartphones in the US. Chipset major Qualcomm is expected to gain immensely from the roll out of 5G networks across the globe.
“2019 will mark the introduction of 5G-enabled devices and smartphones and next-gen screen technology such as 8K UHD televisions to the market,” said Steve Koenig, vice president of market research, CTA.
Smartphone revenue in the US is expected to reach $80 billion (+2 percent) with smartphone unit shipments touching 170.7 million (+1 percent).
Sale of smartwatches in the US is expected to see 20.5 million units shipping (+25 percent), with revenues of $4.7 billion (+19 percent).
U.S. consumer technology industry, which includes streaming services, will grow 3.9 percent to $398 billion in retail revenues, according to the Consumer Technology Association (CTA).