The applications of IoT (Internet of Things) technology in the industrial sector have been seen as a huge opportunity for 5G-related hardware ecosystems. However, compared with the current mainstream technologies used for industrial IoT such as industrial Ethernet, 5G is not particularly appealing to enterprises in the short run. This report examines the advantages of 5G technology in the industrial IoT, compares it with the current industrial IoT technologies, and examines the IoT product strategies of Qualcomm and Huawei in the era of 5G.