The Latin American smartphone market witnessed a significant growth of 15% in 2024, with a total of 137 million units shipped, and Samsung continued to dominate the market despite facing stiff competition from Chinese brands that are rapidly gaining ground.

According to a report by Canalys, Samsung maintained its leading position in the market, accounting for 31% of the market share with 42.9 million shipments, which represents a 12% annual growth. Motorola secured the second spot with 22.8 million shipments, capturing 17% of the market share. The Latin American smartphone market’s overall growth can be attributed to the increasing demand for affordable devices.

A recent analysis by Canalys revealed that out of the 137 million units shipped, Samsung led the market with 42.9 million shipments, followed by Motorola with 22.8 million shipments. Xiaomi came in third, with 22.7 million shipments, also holding a 17% market share. In the fourth quarter of 2024, the market dynamics were slightly different, with Samsung still leading the pack with 10.2 million shipments, 31% market share, and 17% annual growth. Xiaomi took the second spot with 5.4 million shipments, 16% market share, and 11% growth.

In the fourth quarter of 2024, Samsung maintained its top position with 10.2 million shipments, while Xiaomi took the second spot with 5.4 million shipments. The market trends indicate a shift towards more affordable devices, with the under-$200 segment growing from 41% to 48% of the overall market in 2024, at the expense of the $200 to $399 devices.

Canalys’ data suggests that customers in Latin America are opting for more affordable devices, with the under-$200 segment experiencing significant growth. This trend is expected to continue, with Samsung and other brands likely to focus on catering to this demand.

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