A recent IBS Global Semiconductor Industry report sheds light on the importance 5G will play for IC vendors:

“The 5G smartphone volume in China is higher than other countries through 2025. The smartphone and IC vendors that gain a strong position in the China market will also gain strong positions in global markets. Without participating in China’s 5G market, it will be difficult for the smartphone and semiconductor vendors to participate in the global 5G market. In addition to the 5G smartphone market, China will be the leader in establishing 5G communications infrastructure. There is the potential for over two million 5G base stations in China in 2022.”

Some measures of Chinese dominance in electronics production from the report:

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