Buenos Aires, New Delhi, Hong Kong, Seoul, London, Beijing, San Diego – December 12, 2022
The Latin American and Caribbean smartphone shipments fell 13% YoY and 17.3% QoQ in Q3 2022, according to the latest research from Counterpoint’s Market Monitor service. All the top brands’ volumes declined QoQ, except for OPPO.
Commenting on the market, Principal Analyst Tina Lu said, “Q3 2022 shipments were impacted by high inventories carried over from Q2 2022. During the previous quarter, several OEMs pushed high shipment volumes, but consumer demand was slowing down. Therefore, it resulted in excess inventories in most sales channels, and Q3 2022 mainly corrected it. But still, the issue has not been completely fixed and the sales channels will feel the pain of higher-than-acceptable inventories in Q4 2022 too.”
Lu added, “Consumer demand remains weak in LATAM. The regional economic crisis, triggered by high inflation, currency depreciation and a change in political power, resulted in a sharp decrease in consumer demand. OEMs, operators and retailers have all launched aggressive promotional bundles or double-digit discounts to increase sales.”
Research Analyst Andres Silva noted, “Samsung and Xiaomi were the biggest share gainers YoY during the quarter. Samsung remained the absolute leader in the region and all the individual countries. Xiaomi continued to grow by entering new countries and expanding both the operator and its own retail channels. This drove Xiaomi's share and shipment volume growth in the region.”
Commenting on the price band performance, Silva said, “Despite the economic crisis, the >$700 price band saw the highest growth. Apple and Samsung’s flagships drove the growth of this segment. On the other hand, the <$150 price segment saw the biggest drop YoY, reflecting the lack of adequate entry-level smartphone supplies from the biggest brands, especially Motorola.”
Top Smartphone OEMs’ Market Share in Latin America, Q3 2021 vs Q3 2022
Source: Counterpoint Research Market Monitor, Q3 2022
Q3 2022 Market Summary
Background
Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.
Analyst Contacts
Tina Lu
Andres Silva
Peter Richardson
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