Goldman Sachs predicts 200 million 5G phone sales in 2020, Xiaomi to invest $7 billion over next five years

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2020 is the year when 5G will go mainstream and a new report from Goldman Sachs is forecasting a hefty 200 million 5G smartphone shipments globally in the coming year. The estimate comes as part of a recently published report and is signaling a 20 fold increase compared to the 5G phone shipments for 2019. The largest part of those will be destined for the Chinese market and the high demand from consumers will also accelerate 5G base station deployment.

Goldman Sachs predicts 200 million 5G phone sales in 2020, Xiaomi to invest up to $7 billion over the next five years

Last week we came another prediction claimed Huawei alone will top 100 million 5G smartphone shipments in China during 2020. China is looking to keep its lead in the 5G field going forward and is also projected to have the highest number of base station which are expected to number up to 1 million by the end of the year.

In related news, Xiaomi co-founder Lei Jun announced the company is planning to pump CNY 50 billion ($7 billion) in 5G, AI and IoT over the next five years. Back in October Jun revealed the company is planning to release more than 10 5G phones in 2020. The company betting big on its 5G ambitions by building a separate factory for developing and producing its next-gen flagships.

Goldman Sachs predicts 200 million 5G phone sales in 2020, Xiaomi to invest up to $7 billion over the next five years

In 2019 the company already tested the 5G waters with devices like the Mi Mix 3 5G and Mi 9 Pro 5G but 2020 will have much more to offer.

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