The CAICT (China Academy of Information and Communication Technology) recently announced that 5G smartphone shipments in China totaled 168 million units from January to August this year, up 79.7% year-on-year, the United Daily News reported on September 24. During the same period, 227 million smartphones were shipped in China, up 12.3% year-on-year. In August alone, shipments of smartphones in China declined 9.7% to year-on-year to 24.1 million units. The decline was mainly attributed to production issues due to a global chip shortage across all kinds of hardware, including smartphones. Shipment volume of the global smartphone market is anticipated to reach 1.65 billion units in 2021, up from 1.55 billion units in 2020, according to MIC (Market Intelligence & Consulting Institute), a major government think tank and leading IT research institute in Taiwan. By 2025, MIC predicted global 5G shipment volume will top 1.1 billion units and account for 73.8% of the total smartphones with a CAGR (Compound Annual Growth Rate) of 29.4% during the period 2020-2025.