Huawei recently announced that Chinese 5G users will exceed 500 million in 2021 amid the rapid global 5G market growth, the Sina Tech reported on February 8. With the growth rate speeding up over the years, Huawei expects 5G penetration rate in China to reach 30% in 2021, 42.9% in 2022, 56.8% in 2023, 70.4% in 2024, and 81.7% in 2025. Chinese 5G smartphone shipment volume is estimated to have reached 124 million units in 2020 alone, according to MIC (Market Intelligence & Consulting Institute), a major government think tank and leading IT research institute in Taiwan. By June 2020, Chinese 5G smartphones’ share of total smartphones in China already topped 60%. Global smartphone shipment volume is forecast to reach 1.36 billion units in 2021 and grow by 4.2% to 1.41 billion in 2022. Of the total smartphones shipped in 2021, MIC predicts that 540 million, or 39.8%, will be 5G smartphones, representing a whopping year-on-year growth of 136%.