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Goldman Sachs boosts estimates for 2020 5G device sales

October 02, 2019 / Catherine Sbeglia

Following Verizon’s announcement that it has officially turned on 5G in parts of New York City, Boise, Idaho and Panama City, Florida and as reports consistently show that 5G deployment will continue to accelerate, Goldman Sachs has upped the number of 5G devices expected to be deployed next year from 50 million to 120 million. A Goldman Sachs analyst, Rod Hall, had previously believed that the Huawei trade restrictions would significantly hinder the deployment and availability of 5G. However, he recently came to believe that is not the case: After doing some supply chain research, he realized there were “much higher” sales of 5G devices than previously expected, especially in China. We believe Huawei’s ability to build 5G NR gNBs without U.S. components should help to drive meaningful deployments in China in 2020, which support additional Chinese 5G device sales,” Hall wrote. Successful 5G network buildouts will drive 5G device availability, and Goldman S...