The Latin American smartphone market grew 15% in 2024 compared to 2023, according to new data released by Canalys. 2024 shipments were 137 million units, an absolute record in the region.
Samsung reigned supreme with 42.9 million shipments for a 31% market share with 12% annual shipment growth. It was followed by Motorola with 22.8 million shipments, 17% market share, and a 4% decline compared to 2023. In third was Xiaomi, incredibly close to Motorola at 22.7 million units shipped and also 17% market share. Xiaomi’s sales did grow 20% year-on-year.
Transsion was next with 12.8 million shipments, a 9% share of the pie, and 40% growth. But no other brand grew more than fifth-place Honor, which recorded 8 million shipments for a 6% market share in 2024, up 79% compared to 2023.
If we look at just the fourth quarter of 2024, the standings are a little bit different. Samsung still leads with 10.2 million shipments, 31% market share, and 17% annual growth, but it’s Xiaomi in second place with 5.4 million shipments, 16% market share, and 11% growth. Motorola is in third with 5.2 million shipments, 15% of the pie, and a sales decline of 14% compared to Q4 2023.
Transsion is next with 3.1 million units shipped, 9% market share, and 4% year-on-year growth, and Apple is in fifth with 2.8 million shipments, 8% market share, and a 12% year-on-year growth.
Canalys says people in Latin America are buying more and more cheaper phones, with the under-$200 segment growing from 41% to 48% of the overall market in 2024, to the detriment of the $200 to $399 devices. The image above illustrates how well each brand has been doing in three price segments, and as you may have expected, Samsung’s market share shrinks the more you go down in price.
