Meanwhile, the report predicts that 20 handset makers will bring out 1 million 5G-enabled devices by next year. At the same time, around 1 million 5G modems and the same number of fixed wireless access devices will also be installed worldwide, Deloitte predicts.
According to the report, 5G-enabled handsets will make up 1% of smartphone sales by end of 2020.
Manufacturing a 5G smartphone comes with its own set of difficulties and requires a more complicated chipset, which will cost at least $40 more than a 4G-backed one. Though numerous chipmakers are working on immediate supply, distribution is expected to gain speed only by the second half of this year.
Earlier this month at the Snapdragon Summit held in Hawaii, Qualcomm (QCOM) unveiled a prototype of the first 5G smartphone, powered by its flagship Snapdragon 855. Address the audience at the event Qualcomm President Cristiano Amon said the company was only months away from launching 5G services.
The event also saw a demonstration of 5G network by Verizon (VZ) and AT&T (AT&T).