A new report from leading data and analytics company, Global Data, has claimed that ‘affordable’ 5G phones will become a reality in 2020, thanks largely to Qualcomm’s newly-announced Snapdragon 765 mobile platform. According to the report, the new chip will enable OEMs to design cheaper 5G phones, allowing mainstream consumers in the US and around the world to enjoy the new technology that promises to offer super high-speeds with minimal latency.

According to Anisha Bhatia, Senior Device Analyst at GlobalData, “In 2020, we will see manufacturers such as Lenovo and HMD (Nokia) in the US, along with Xiaomi and OPPO in Europe and Asia, hitting the market with lower-priced 5G smartphones in the $500-$700 range, with some even being offered for less than $500. As more devices become available across price tiers, 2020 will be the ramp-up year for 5G. Coverage will continue to grow across regions, and carriers will engage with partners to find ways to monetize 5G devices and services”.

Qualcomm’s Snapdragon 765, which was officially announced at its tech summit earlier this month in Hawaii, is expected to help lower barriers to entry in 5G by bringing down the price of 5G-enabled smartphones. The chipset not only supports both mmWave and sub-6 GHz spectrum, but also includes an integrated modem, which will allow mid-range smartphones to offer improved power efficiency and thus, longer battery life.

Meanwhile, Taiwanese fabless semiconductor firm, MediaTek, has also been doing its bit to bring down the entry barriers to 5G by offering its own 5G-enabled mobile processor, the Dimensity 1000, which was unveiled late last month. Built on the 7nm process and sporting an integrated 5G modem, it is expected to offer flagship-level performance at a more affordable price than the Snapdragon 865, bringing 5G access to a larger user base.