Latin America smartphone shipments rose 2% YoY in Q1 2026, according to Counterpoint Research’s latest Market Monitor. During the quarter, smartphone OEMs in the region placed orders to lock in current pricing driven by rising demand ahead of expected price hikes stemming from the global memory shortage. The long-term inventory building reflects a proactive strategy to keep prices low for as long as possible.

The region’s shipments were also boosted by double-digit percentage gains in Ecuador, Peru and Venezuela, as well as rising demand in Argentina, Colombia, Central America and the Caribbean. This helped offset the contraction across Latin America’s two largest markets, Mexico and Brazil.

LATAM Smartphone Shipments by OEM, Q1 2025 vs Q1 2026

Samsung maintained its overall leadership in the region in Q1 2026 but posted a slight 3% YoY shipment decline. During the first quarter, the brand applied pressure in the market through significant price markdowns on its legacy models and its new Galaxy A series and S series. Backed by a highly visual presence and reinforced by additional sales reps in stores, Samsung maintains its position in the market and counters expansion efforts by other brands.

Motorola, the second-largest brand in the region, registered an 8% YoY increase in shipments in Q1 2026. However, the company currently lacks branding at the point of sale and offers a limited selection of models in physical channels, potentially limiting sales due to a lack of consumer awareness. Motorola is an official FIFA World Cup 2026 partner and the brand will likely leverage its partnership distinction with greater exposure once the sporting event begins.

HONOR was the fastest-growing brand in the region (+75% YoY in shipments) during the quarter, intensifying pressure on competitors like Xiaomi, OPPO and other Chinese brands with increasing marketing activities and an expanding retail presence. Thanks to these efforts, the brand is the leading brand in Ecuador, and second and third in Peru and Venezuela, respectively.

Apple’s shipments grew 8% YoY in Q1 2026. The brand was already on an uptrend driven by the strengthening momentum of the iPhone 17 Pro Max, which was reinforced by the iPhone 17e launch during the last month of the quarter.

The $150 to $250 price band became the leading segment in Q1 2026, climbing 5% YoY to capture a 29% share of the region. This shift further confirms the higher‑spend behavior observed since last quarter.

According to Principal Analyst Tina Lu, “In Q1 2026, brands increased their inventory levels, especially in the region’s most important segment, the entry-level, to ensure supply for the coming months.” Meanwhile, 5G device sales grew 4% YoY, while penetration retreated 9% QoQ, breaking a two-quarter growth streak above 40% of the market. Commenting on 5G adoption, Senior Analyst Benjamin Corona said, “Latin American consumers continue to prioritize hardware upgrades, such as better cameras, larger batteries, and higher screen resolution over 5G connectivity. They perceive meaningful benefits from these hardware features, where 5G does not deliver a similar upgraded experience for them.”

Following the shipment increase in Q1 2026, several brands will most likely introduce targeted discounts on strategic models to incentivize buyers in Q2 2026. Counterpoint expects more market consolidation during the second half of the year, benefiting brands that can use existing inventory to soften price hikes, or avoid them altogether. The LATAM consumers are likely to adopt a conservative consumption stance while the market shifts stabilize over the next few months.

About Counterpoint Research

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 development 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.

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