Latin America’s (LATAM’s) smartphone shipments ended 2025 with a marginal 1.8% growth, according to Counterpoint Research’s latest Market Monitor. But this masked significant performance disparities across individual countries. Mexico was the country with the biggest drop in the region, at 10% YoY, while shipments in Argentina and Colombia saw a double-digit growth.

Mexico’s numbers were affected by high inventories from 2024, on top of tough economic conditions that led to consumers slowing down their spending. Argentina’s shipments grew due to exceptionally low volumes in 2024 following an economic crisis that shut down most imports during H1 2024. Colombia’s shipment growth was driven by fierce competition. Transshipments to Venezuela also increased, driven by the trade ban in place.

Commenting on the brand dynamics, Senior Analyst Benjamin Corona said, “LATAM’s brand landscape is undergoing a gradual transformation. Samsung continues to hold the highest market share, though its performance varies locally, falling short of the top three in some markets.

Brands that have been in the region for less than five years are now emerging as leaders in some countries. While Xiaomi ranks third in the region, it consistently maintains a top-three presence in every individual market. HONOR was the fastest-growing brand in the region in 2025, albeit from a smaller base in 2024. This growth was fueled by a significant investment in marketing, including the deployment of one of Mexico’s largest sales teams, and the opening of more than 15 HONOR concept stores in Peru.”

Key LATAM Countries Smartphone Shipment Growth and Top 3 Brands 2025

Commenting on the market outlook, Principal Analyst Tina Lu said, “There was a slight increase in shipments at the end of the year, especially in the entry-level models. Thus, 2026 started with inventory slightly on the higher side, which will most likely further impact forthcoming shipments. OEMs concentrated in the entry-level market face a difficult outlook for 2026, as volume in lower price bands remains under pressure due to memory shortages.

Smartphone prices have been increasing since the end of 2025. Each market in the LATAM region has a different price adjustment rate, but generally an upward trend. Retailers try to counteract this trend by offering more instalment schemes. All in all, consumers are keeping their smartphones for a longer period, leading to a contraction of replacement volumes. We expect the LATAM smartphone market to decline by 14% in 2026.”  

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Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.