Apple (NASDAQ: AAPL) is ruling the sales charts in the 5G smartphone era thanks to its huge installed base of users running older devices. These loyal customers have been buying the competitively priced iPhone 12 models hand over fist. The smartphone giant occupied first place in the 5G smartphone sales rankings in the first quarter of 2021 by a wide margin, which sent its quarterly iPhone revenue to $48 billion from $29 billion in the year-ago quarter.
The iPhone product line should keep driving such impressive growth for Apple for a long time to come as more users make the jump to 5G technology. But at the same time, the 5G-equipped iPhones put Apple in a solid position to make a dent in markets where the new technology standard is yet to be rolled out. One such example is India, where Apple is already making explosive progress that could be amplified by the roll-out of 5G networks. Let's see why that may be the case.
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Source Fool.com