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30 Sep, 2019 14:52

Goldman Sachs predicts massive 5G smartphone boom in 2020

Goldman Sachs predicts massive 5G smartphone boom in 2020

The 5G technology boom could be explosive for smartphone makers, according to Goldman Sachs. The Wall Street bank significantly increased its 5G smartphone estimates for next year.

Goldman’s analyst Rod Hall pointed to his supply chain research indicating “much higher” 5G device sales than previously expected.

“We are increasing our 2020 5G smartphone estimates to 120 million from 50 million as the supply chain continues to indicate much higher 5G device sales, particularly in China, than we have been forecasting,” Hall said.

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He suggested that 5G would only be available in limited parts of the world with Chinese network expansion delayed due to Huawei trade restrictions. The analyst, however, noted that manufacturing bottlenecks for 5G smartphone components are clearing up. While this is likely good news for Apple, according to Hall, Huawei is also expected to benefit meaningfully.

“We believe Huawei’s ability to build 5G NR gNBs without US components should help to drive meaningful deployments in China in 2020 which support additional Chinese 5G device sales,” he said.

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Chinese tech giant Huawei, which is currently caught in the crossfire of the US-China trade war, reported that its global share of telecoms equipment expanded to 28.1 percent in the first half of this year. The company remains ahead of global rivals in the 5G market, having announced 50 commercial 5G mobile network deals.

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