Samsung leads the Latin American smartphone market with a market share of 31%, Xiaomi is in third place.

Samsung Dominates the Latin American Smartphone Market with 31% Market Share, Followed by Xiaomi in Third Place

【Mobile China News】On December 11th, Mobile China learned that according to the data released by market agency Canalys, the Latin American smartphone market experienced a strong recovery in the third quarter of 2023 after six consecutive quarters of decline, with shipments increasing by 17% to 31.8 million units year-on-year. Stable channel inventory, coupled with a favorable consumer environment before the peak selling season, laid the foundation for this recovery. Among them, Samsung maintained the top spot with a year-on-year growth rate of 2%, capturing a 31% market share.

Samsung’s leadership in the Latin American smartphone market is due to the stable expansion of its affordable A-series products, as well as effective channel and inventory management strategies. Although the performance of mid-to-high-end models was unremarkable, Motorola’s overall shipments still fell by 2%, ranking second with a 19% market share. Xiaomi’s recovery in core markets such as Chile, Mexico, and Peru, as well as Transsion’s continued focus on the sub-market through the Infinix and Tecno brands, resulted in outstanding performance in the third quarter with year-on-year growth rates of 43% and 159%, respectively. Apple ranked fifth, with a 4% market share, and a 9% decline year-on-year.

Additionally, Canalys pointed out that in the third quarter of 2023, Chinese smartphone manufacturers, including Xiaomi, Transsion, Honor, OPPO, and ZTE, performed exceptionally well. Xiaomi’s growth of 43% resulted in its highest quarterly shipments in the Latin American region. With the influence of the Redmi 12, 12C, Note 12S, and Note 12 4G, Xiaomi’s performance in the markets of Brazil, Mexico, and Chile was particularly outstanding. Transsion fully capitalized on the untapped markets in the region, such as Central America, the Caribbean, and Ecuador, and even achieved an increase in shipments.

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Outside of the top five manufacturers, Honor had the fastest growth, with a year-on-year increase of 123%. Honor adopted a similar channel strategy that Huawei implemented in Latin America many years ago and made significant progress in the Latin American market, which is of great significance for its initial public offering (IPO). OPPO and ZTE grew by 47% and 88% respectively, and with healthier inventory levels, they rebounded in key markets such as Mexico, Colombia, and Peru.

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