CHART: Latin America's Smartphone Shipments Dropped 9.9% in Q1 2023

Key highlights:

• Market leader in the region, Samsung experienced a decline in volume and market share compared to the previous year.
• Apple saw an increase in volume and market share year-over-year.
• OPPO continued its impressive growth, more than doubling its market share year-over-year.

LATAM smartphone shipments experienced a significant decline of 9.9% year-over-year in the first quarter of 2023 due to weak consumer demand, according to Counterpoint Research.

This downturn followed a gloomy Q4 of 2022, with no signs of improvement in the early months of 2023. Typically, Q1 is a slower period for smartphone shipments in the region, as it coincides with the southern hemisphere's summer recess. Principal Analyst Tina Lu highlighted several factors influencing the market dynamics, including high inflation, low economic growth, and ongoing social unrest from the previous year.

Samsung experienced a decline in volume and market share compared to the previous year, largely influenced by the overall market decline. However, the brand's share improved quarter-over-quarter. While Xiaomi recorded growth in both volume and market share.

Apple also saw an increase in volume and market share year-over-year. Its growth in the region was primarily driven by the iPhone 11, a 4G model. Aggressive sales tactics, such as offering a memory upgrade in the iPhone 14 and subsidies for various products, contributed to Apple's success.

OPPO continued its impressive growth, more than doubling its market share year-over-year. The brand's volume also grew by 88%, the highest among leading brands in the region. The Techloy chart below shows the performance of each OEM.