The Latin American smartphone market grew significantly in 2024. Shipments increased by 15% compared to 2023. According to Canalys, a record 137 million units were shipped.
Latin American Smartphone Market Hits Record Growth in 2024 and Samsung Leads
Samsung remained the top smartphone brand. It shipped 42.9 million units, securing a 31% market share. This marked a 12% increase from the previous year. Samsung’s wide range of devices and strong reputation helped it maintain its lead.
Motorola followed in second place with 22.8 million shipments and a 17% market share. However, its sales declined by 4% compared to 2023.
Xiaomi was close behind, also holding a 17% market share with 22.7 million shipments. Unlike Motorola, Xiaomi saw 20% growth year-over-year. Its budget-friendly, feature-rich devices fueled this increase.
Rising Brands: Transsion and Honor
Transsion took fourth place with 12.8 million shipments and a 9% market share. It recorded an impressive 40% growth in 2024. The brand is gaining popularity in emerging markets.
Honor experienced the highest growth. It shipped 8 million units, achieving a 6% market share. This marked a remarkable 79% increase from 2023. Honor’s success is driven by its strong presence in the mid-range and budget segments.
Q4 2024: Xiaomi Overtakes Motorola
The market rankings changed slightly in Q4 2024. Samsung stayed on top with 10.2 million shipments and a 31% market share. It also saw 17% annual growth.
Xiaomi moved to second place with 5.4 million shipments and a 16% market share. It recorded 11% growth compared to Q4 2023.
Motorola slipped to third, shipping 5.2 million units. It held a 15% market share but suffered a 14% decline in sales.
Transsion followed with 3.1 million shipments and a 9% market share. Apple took fifth place with 2.8 million shipments, securing an 8% share and growing by 12% year-over-year.
Consumers Prefer Affordable Smartphones
Latin American consumers are shifting toward cheaper smartphones. Canalys reported that the share of devices priced under $200 grew from 41% to 48% in 2024. This growth came at the expense of mid-range phones ($200-$399), which declined in demand.
Different brands perform differently in price categories. Samsung remains dominant but loses ground in lower-priced segments. Brands like Xiaomi, Transsion, and Honor are gaining traction among budget-conscious buyers.
Conclusion
The Latin American smartphone market had a record year. Samsung remains the leader, but Xiaomi, Transsion, and Honor are growing fast. Affordable smartphones are becoming more popular. Brands must adapt to this trend to stay competitive.
