IDC reported 5G smartphones will capture 50% of the global market by 2023. While many top vendors have reduced their 2020 production plans to cope up with the market decline, most of the cuts are from 4G portfolio. Most producers say that, by the end of 2020, their portfolio will be dominated by 5G. The continuous supply of 5G phones coupled with the disrupted economy may reduce ASPs to $495 by 2023, making them affordable and hence quite popular.

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