5G smartphones are finally available on the Chinese market now, as ZTE announced its first 5G phone model was ready for reservation in China since Tuesday.

The ZTE Axon 10 Pro 5G, priced at 4,999 yuan (about 727 U.S. dollars), will be put on sale through its official online store as well as e-commerce platforms. 

It is powered by Qualcomm's Snapdragon 855 mobile platform and a 4000mAh capacity battery with wireless charging support. It is also equipped with a 6.47-inch AMOLED display and features a triple camera setup which includes a 48-megapixel main sensor, an ultra-wide 20-megapixel lens and an 8-megapixel telephoto lens, according to The Paper, a Chinese media site.

The Chinese smartphone maker rushes to gain a foothold in the increasingly competitive 5G smartphone market. Besides ZTE, Chinese smartphone vendors Huawei, Oppo, Vivo and One Plus have secured a 5G certificate up to now.

Huawei is scheduled to release its 5G smartphone in China, the Mate 20X 5G, this Friday.

"Sales of 5G smartphones in China can only take up 1 to 2 percent of the whole market this year. That's about two to three million units. But the launch of ZTE's 5G smartphone is a boost to the company's brand," James Yan, research director at Counterpoint Technology Market Research, told China Daily.

According to a research note by market research firm Canalys, Chinese consumers are expected to account for one-third of the world's 5G-enabled handsets within five years. The firm expects 17.5 percent of smartphones shipped in China will be 5G-capable next year and the percentage could rise considerably to 62.7 percent in 2023.

(With input from Xinhua）