Apple’s iPhone now has 7.7% of the Latin American smartphone market (its highest level ever)

Latin American (LATAM) smartphone shipments fell 3.3% year-over-year (YoY) to reach 119 million units in 2023, according to Counterpoint Research.

Despite the region’s strong shipment growth in H2 2023, driven by fierce competition among Chinese manufacturers and upgrades from Apple, the annual numbers were constrained by the double-digit percentage shipment decline recorded in the first half of 2023, adds the research group.

Speaking of Apple, the iPhone marked its best-ever market share in the third quarter with 7.7% of the LATAM smartphone market.

“Samsung’s shipments decreased throughout 2023 partly because it started the year with inventory carried over from 2022. Although it is still the absolute leader in some markets, like Peru, the brand is losing its leadership position in many others,” says Counterpoint Research Analyst Andrews Silva. “Xiaomi had the highest YoY share growth in the region among all brands. Brazil, Peru, Venezuela, and other smaller countries in the region were leading this growth. However, Xiaomi still lagged in most other markets, especially Mexico. Meanwhile, Apple continued to grow in most markets in the region. In Q4 2023, Apple recorded its highest-ever quarterly volume helped by Mexico, its biggest market in the region. The shipment of the older Apple models, namely the iPhone 11 to iPhone 14 devices, did not decline even after the launch of the iPhone 15 series.“

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