Shipments in Latin America’s smartphone market rose 20 percent to 33.5 million units in the second-quarter of 2024.
Canalys’ latest research shows that the smartphone market in Latin America has achieved double-digit annual growth for the fourth consecutive quarter.
Samsung (10.2 million), Xiaomi (6.2 million), Motorola (5.7 million), Transsion (3.2 million), Honor (1.7 million), ZTE and Apple are the top seven smartphone brands in Latin America in Q2 2024.
Canalys analyst Miguel Perez has identified the latest buying trends in the Latin America smartphone market. There is strong demand for smartphones which are priced less than US$200 since Q2 2021.
Samsung maintained its healthy lead in the market, growing 9 percent year-on-year to 10.2 million units, driven by the budget friendly A-series.
Xiaomi was Latin America’s second largest smartphone vendor for the very first time, supported by 35 percent shipment growth to 6.2 million devices. Q2 also marked Xiaomi’s highest quarterly volume in the region to date, as it surpassed the 6 million units milestone for the first time.
Motorola followed in third, shipping 5.7 million units.
TRANSSION and HONOR rounded off the top 5, growing 52 percent and 47 percent, respectively, to 3.2 million and 1.7 million units.
“Vendors are incentivizing consumers to refresh their devices sooner using strong value-for-money positioning and aggressive pricing. Most players are focused on launching compelling specs at low prices. This is reflected in the ASP declining 12 percent to its lowest value since Q2 2021,” said Canalys Senior Analyst Miguel Perez.
Baburajan Kizhakedath
