We note the main mobile operators in Portugal are now preparing for the arrival of the first 5G commercial service offers, which should be launched later in Q1 2021. Details are emerging.

Consumers will pay extra for 5G. For example, a Meo user buying a premium Samsung S21 handset will pay an extra US$6 per month (on top of 4G) for their 5G network access.

The arrival of 5G sparks a period of strong growth for Portugal. We forecast 5G smartphone shipments to grow +7,000% in Portugal in the next five years.