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The Latin American smartphone market decrease by 9.9% year-on-year in Q1 2023, Samsung has maintained its lead in the Latin American smartphone market in the first quarter of 2023, according to a new report by Counterpoint Research. The South Korean company accounted for 41.7% of shipments in the region, followed by Motorola with 20% and Xiaomi with 12.1%.
“Samsung’s strong performance in Latin America is driven by its wide portfolio of devices that cater to different price points and needs,” said Tarun Pathak, Counterpoint Research’s Associate Director of Mobile Devices. “The company also benefits from its strong brand recognition and distribution network in the region.”
Motorola and Xiaomi also saw strong growth in Q1 2023, thanks to their focus on budget and mid-range devices. Motorola’s share in the market grew by 10.2% year-on-year, while Xiaomi’s share grew by 13.3%.
“Motorola and Xiaomi are gaining traction in Latin America by offering competitive devices at affordable prices,” said Pathak. “The two companies are also investing heavily in marketing and distribution to reach a wider audience.”
The overall growth of the Latin American smartphone market is expected to continue in the coming quarters, driven by the increasing adoption of 5G and the growing popularity of online shopping.
Here are some additional details from the report:
- The average selling price (ASP) of smartphones in Latin America increased by 10.5% year-on-year in Q1 2023.
- The 5G segment accounted for 15% of smartphone shipments in Latin America in Q1 2023.
- Brazil was the largest smartphone market in Latin America in Q1 2023, followed by Mexico and Argentina.
- Online sales of smartphones in Latin America grew by 25% year-on-year in Q1 2023.