The Latin American mobile phone market has seen a remarkable turnaround in Q3 2023, showing a marked resurgence after a period of decline. According to research released by Canalys, smartphone shipment trends point to a remarkable comeback, reaching 31.8 million units.
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Main highlights
- Samsung first: Leading smartphone shipments, Samsung maintained its top position with a market share of 31%. Its year-on-year growth of 2% is attributed to the robust expansion of the “Galaxy A” series.
- Motorola maintains second place: Despite a 2% drop, Motorola secured its position as second-place in the Latin American mobile phone market, holding 19% of the market share. The company planned a decline in sales of mid- to high-end devices.
- Xiaomi on the rise: With a remarkable growth of 43% compared to the same period in 2022, Xiaomi has almost surpassed Motorola, reaching 18% of market share. Its new generation of mid-range phones has driven this significant increase.
This quarter saw not only the resurgence of established giants, but also the rise of emerging players. Moreover, while Samsung and Motorola maintained their prominent positions, Xiaomi almost grabbed the second place, driven by its competitive lineup.
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Apple fails
Meanwhile, Apple, although one of the giants in the sector globally, registered a timid share of 4% in Latin America, suffering a contraction of 9% compared to the previous year during the third quarter of 2023. Outside the top 5, other manufacturers experienced an impressive growth of 23%.
Miguel Perez, senior consultant at Canalys, highlights optimism in key markets such as Brazil and Mexico, which are recovering and driving growth in the sector. However, he warns that social and political uncertainties could introduce volatility in demand, influencing market sentiment in the long term.
Certainly, despite encouraging signs of recovery, the mobile phone market in Latin America remains shrouded in uncertainty about its future. However, the persistent need for smartphones continues to be a powerful driver of growth, offering positive prospects for the coming years.
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