Xiaomi will be one of the first companies to launch 5G phones next year. Speaking at the World Internet Conference in the eastern Chinese town of Wuzhen, Xiaomi CEO Lei Jun has revealed that the company is planning to launch more than 10 5G phones net year. The Chinese company has already launched two 5G phones – the Mi Mix 3 5G and Mi 9 Pro 5G – in the local market this year. According to Lei, the demand for both phones exceeded Xiaomi’s expectations and led to supply chain issues. Therefore, it has prompted the company to launch 5G models for the high, middle, and low-end price tiers, next year.
Xiaomi's share in the Chinese smartphone market has fallen from 13.9 percent to 11.8 percent over the past year. In reference to that, Lei said, “People in the industry fear that next year 4G models won’t sell, this is a step you have no choice but to take, so we hope that operators can speed up their expansion of 5G base stations.”
Reportedly, Chinese carriers have already started accepting pre-subscriptions for 5G. Moreover, around 9.3 million users have signed up for next-generation communication technology even before it is rolled out in China. Further, the top three Chinese carriers have already secured around 9.3 million 5G pre-subscriptions. They are allowing people to sign up for 5G via text message. China is expected to be the largest early adopter of 5G infrastructures as more consumers are expected to migrate towards 5G in 2020.
As of 2019, 5G phones account for one percent of the market. However, according to Taiwanese Semiconductor Manufacturing Company (TSMC) projections, the demand for 5G smartphones could reach 300 million units by next year, which according to Strategy Analytics projections equals to 10 percent rise in 5G phones by next year.