Smartphone shipments in Latin America fell 14% year on year to 28 million units in the second quarter of 2023, according to the Canalys research group. And Apple wasn’t immune.

iPhone sales dipped from 1.5 million in the second quarter of 2022 to1.4 million in the second quarter of 2023. Apple sold 1.4 million smartphones in Latin America in quarter two for 5% market share. Leading Apple in the region are Samsung (34% market share), Motorola (21% market share), Xiaomi (17% market share), and Transsion (7% market share).

Despite the decline in Latin America smartphone shipments, Canalys says the market is stabilizing and showing signs of recovery, thanks to increased consumer confidence, improvements in inventory levels and smartphone vendors’ focus on key segments. Even amid varied socio-political landscapes, Latin America’s overall economic stability is fostering a favorable climate for the smartphone market, adds the research group. 

“While the possibility of a recession has not entirely faded, inflation is largely in check across the region, and its three economic powerhouses, Brazil, Mexico and Colombia, are growing steadily,” notes Canalys. “This positive outlook has led to an upgraded economic growth forecast for 2023, making the region a focus for smartphone market expansion.”

Article provided with permission from AppleWorld.Today