US sales of 5G smartphones are expected to generate about $1 billion in revenue in 2019, according to a forecast from the Consumer Technology Association (CTA).
The CTA projects roughly 2.1 million 5G smartphones will be sold this year. Looking ahead, the association predicts that by 2022 some 76 percent of smartphones purchased in the United States will support 5G connectivity.
Steve Koenig, Vice President of Market Research at CTA, commented on the outlook:
“The future is bright for many tech products consumers already know and love, as stalwart revenue drivers including smartphones, laptops, and televisions continue to innovate.
2019 will mark the introduction of 5G-enabled devices and smartphones and next-gen screen technology such as 8K UHD televisions to the market.”
Samsung has announced plans to release a 5G-capable smartphone this year that will work with Verizon’s network. Apple, by contrast, is not expected to release a 5G iPhone until at least 2020.
Android manufacturers such as Samsung frequently move faster to adopt emerging technologies. Given that US 5G coverage in 2019 will be limited, many Apple users are unlikely to feel they are missing essential features right away.
Still, some consumers making premium smartphone purchases this year may prefer devices that offer a degree of future-proofing. That could prompt some Apple customers to wait for a 5G-capable model or to consider alternatives that support the new standard.
The CTA also expects the overall US smartphone market in 2019 to reach about $80 billion in revenue, with approximately 170.7 million devices shipped.