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LATAM Q2 2023 Smartphone Shipments Fall 15.6% YoY Hurt by Regional Economic Crisis

Entry of Chinese brands stirring up regional market.
Samsung remains regional leader with 36.9% share, followed by Motorola with 21.4% share.
Apple’s growth mainly sustained by the iPhone 11.
One in four smartphones shipped in the region is a 5G smartphone.

Buenos Aires, San Diego, Denver, New Delhi, Hong Kong, Seoul, London, Beijing – August 24, 2023

Smartphoneshipments in Latin America (LATAM) dropped 15.6% YoY but climbed 2.4% QoQ in Q2 2023, according to the latest data fromCounterpoint Research’s Market Monitorservice. The decline was due to the negative impacts of the regional economic crises and weak global smartphone shipments.

Commenting on the market dynamics,Principal Analyst Tina Lusaid, “LATAM’s economic growth in 2023 is actually slightly higher than forecast. However, this recovery has not yet inspired an increase in the rate of smartphone replacement. Lowconsumerdemand continued to affect the region during the quarter. Although most countries in the region are seeing declininginflation, consumer confidence is yet to bounce back, as political turmoil continues to constrain the general economy.”

Research Analyst Andres Silva added,“Seasonal factors such as Mother’s Day and Father’s Day promotions helped the market grow slightly QoQ in Q2 2023, although the market declined YoY. The entry of manyChinesebrands at once is stirring up the market as they aim for growth, pushing other brands to become more aggressive. However, the YoY decline affected all the top sixcountriesin the region.”

Top Smartphone OEMs’ Market Share in Latin America, Q2 2022 vs Q2 2023

Source: Counterpoint Research Q2 2023 Market Monitor
Note: Figures may not add up to 100% due to rounding

Commenting on the ASP performance in the region,陆说: “There is a slight premiumization trend going on in the region. Compared to last year, LATAM’s total smartphoneASPonly grew around 4%. This has been a consistent trend. Inflation has some influence on it. However, established brands such as Samsung are pushing to increase the ASP in the region with5Gmodels.”

Market Summary

Samsungwas once again the absolute leader in the LATAM market in Q2 2023. However, itsshipmentsand market share declined YoY with weakened performance in most of the countries in the region.
Samsung has been very aggressive in offering extra discounts during the promotions. But not enough as its shipments were hurt by the Brazilian market and the entry ofChinesebrands.
Since Samsung is focusing more on premium models now, the availability of its models in the lower price bands is becoming restricted. Thus, its overall value dropped -2% YoY.
Motorola’s shipments decreased YoY but its market share increased slightly. It increased the number of models in the entry-segment E series. It also increased its brand awareness with the launch of theMotorolaEdge 40 Pro in May with an aggressive advertising campaign.
Xiaomi lost share slightly during the quarter but remained stable due to the launch of the Redmi Note 12 during the first week of April. This increased its Q2 2023 shipments and sales.Xiaomialso increased its Poco brand shipments in the open channels in the region.
Xiaomi recovered slightly from its position in Mexico. The participation of the grey market in the southern part of the LATAM region continued to grow.
Apple’sshipments and market share both grew YoY in Q2 2023, mainly sustained by the iPhone 11. The4Gsmartphones are still driving Apple’s volume in the region.
OPPOcontinued to be a strong fifth player in the region and ranked third in Mexico. Its volume increased by more than 70% in Q2 2023, while its share more than doubled YoY. Despite the growth, its shipments dropped QoQ.
HONOR did not make it to the list, but its growth in LATAM has been notable.HONORwas the brand with the most aggressive growth during the quarter. However, it still needs to build on its branding.
“Others”, mainly composed of regional brands, continued to decrease YoY. This category was most affected by the entry of low-price-band Chinese brands.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the technology, media and telecom (TMT) 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

Follow Counterpoint Research
press@www.arena-ruc.com

Philippines Smartphone Shipments Decline 20% YoY in Q2 2023; Xiaomi Rises to Third Spot

Philippines smartphone shipments fell 20% YoY due to sustained low demand driven by a combination of factors like high taxes and inflation.
Xiaomi rose to the third position on the Note 12 series’ success and 19% YoY shipment growth.
Back-to-back launches propelled TECNO’s YoY growth to 73%.
Premium buyers shrugged off higher costs to drive the segment’s 26% YoY growth.
5G smartphones under $200 witnessed 25% YoY growth.

Jakarta, Hong Kong, London, Boston, Toronto, New Delhi, Beijing, Taipei, Seoul – August 10, 2023

Smartphone shipments in the Philippines recorded a 20% YoY decline in Q2 2023 due to sustained low demand driven by a combination of factors such as high consumption taxes, elevated production and distribution costs following public utilities’ privatization, and a weak Peso, according toCounterpoint Research’s Philippines Monthly Smartphone Channel Share Tracker.

Source: Counterpoint Research

Many of the major brands saw significant downswings this quarter. Thoughrealmecontinued to be the number one brand, its market share reduced to 17.3% after a 37% YoY decline in shipments due to limited product launches and weakened smartphone demand. The brand could keep its number one spot due to the popularity of its C55 model, which was also the market’s top-selling model in Q2 2023, and the C53 model, which was sold out on Lazada overnight.Samsungexperienced a YoY shipment decline of 26% in Q2 2023, owing again to fewer model launches and limited promotions in the budget segment.

Xiaomiovertook OPPO to take the third position in the Philippines in Q2 2023. The brand recorded 19% YoY growth boosted by a good reception of its Note 12 series. Xiaomi also held its annual fan festival in April, where it offered promotions, especially on the newly launched Note 12 series and popular 12C model, further fuelling its growth.

OPPOandvivowitnessed shipment declines of 34% and 43%, respectively. Both brands were part of the payday promotions in June, but the offers were restricted more toward the older models to clear inventory.Infinixrecorded marginal growth of around 3% but increased its market share to 9.7% to enter the top five brands for the quarter. Its budget Hot 30 series performed well, while the Note 30 series got a good reception as a decent gaming phone.

TECNOperformed well in this quarter, recording 73% YoY shipment growth driven by its quick, successive model launches. The newly launched Spark Go and Spark 10 series are doing particularly well due to their competitive prices.

Shipments of smartphones priced less than $200 and in the $200-$399 segment decreased by 22% and 16% YoY, respectively, due to constrained consumer spending. The $400-$599 segment recorded a bigger decline of 54% as it saw fewer launches by major brands such as Samsung and realme.

However, the premium segment (>$600) witnessed a 26% YoY increase, the only segment to show YoY growth. Apple still led this segment with a 43% share. The brand’s official reseller, Powermac, has expanded its Apple Premium Partnership store presence to give Apple customers an enhanced experience along with deals and promotions. Other offers by retailers centered around 0% installments and iPhone bundled offers.

For this quarter, 5G smartphones saw a decline in all price segments except the below $200 segment, which witnessed a 25% YoY growth driven by the introduction of Infinix Zero 5G and Note 30, along with TECNO’s 5G version of the Spark 10 series. Telecom operators are making efforts to keep up with operators like Globe Telecom, which recently rolled out its 5G services at 66 more sites. However, 5G infrastructure development is still slow in the Philippines and is mainly centered around urban areas like Greater Manila, Cebu and Davao.

Outlook

Inflationary pressures have been decreasing in the Philippines, thus giving some relief to consumers. While we may see another quarter of YoY decline, demand is likely to increase, especially with online and offline channel promotions. The premium segment is also expected to do well as Apple and Samsung launch premium models in the coming quarter.

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

Glen Cardoza

Follow Counterpoint Research

press(at)www.arena-ruc.com

Mexico Smartphone Shipments Plunge 21% YoY in Q4 2022

Samsung remained the market leader with a 27.1% share, followed closely by Motorola with 22.6%.
朋友把第三点在墨西哥的智能手机market for the first time.
5G smartphones captured a 21% share of the market in Q4 2022.

布宜诺斯艾利斯,圣地亚哥,New Delhi, Hong Kong, Seoul, London, Beijing – March 28, 2023

Going through one of its toughest years, Mexico’s smartphone market saw its shipments fall 21% YoY in Q4 2022, according to the latest data from Counterpoint Research’sMarket Monitorservice. The total addressable market (TAM) too decreased by 7% YoY.

Commenting on the market dynamics,Principal Analyst Tina Lusaid, “Mexico is the second biggest smartphone market in the Latin American region. With its low import taxes and no entry barriers, Mexico is also the favorite market for many OEMs to launch their Latin America operations. But it still has its caveats, like the operators that dominate the channel, especially Telcel.”

陆说:“高通胀与政治相结合turmoil has led consumers to delay their smartphone purchases. On the other hand, many sales channels were still carrying high inventory in Q4. All this led to a sudden drop in shipments. The market is not expected to return to growth in H1 2023 due to continued economic turbulence and H1 2022 shipments being high. It is more likely to remain flat and grow 1-2% in the best case.”

Commenting on the performance of OEMs in the market,Vice President of Research Peter Richardsonsaid, “The shipment drop has also led to increasing brand concentration. In Q4 2021, the top five players represented 78.7% of the total shipments, while in Q4 2022, the top five, with slightly different players, represented 84.2% of the total shipments. Bigger players with stronger brand recognition managed to keep shipping, while the smaller brands felt the impact of a falling market more strongly.”

Top Smartphone OEMs’ Market Share in Mexico, Q4 2022 vs Q4 2021

Source: Counterpoint Research Q4 2022 Market Monitor

Market Summary

Most OEMs’ volume decreased YoY but increased in share as the overall market declined.
Samsung’s volume decreased YoY but increased in share, maintaining the brand’s top position in the market. Samsung’s share increased thanks to its larger portfolio and volume in the entry-level price segment.
Motorola, which has led the rankings from time to time, finished second as its shipments contracted following efforts to decrease inventory.
OPPO, which was relaunched in Mexico less than three years ago, was the only brand to manage a marginal YoY growth in shipments. However, OPPO’s success in the country is very dependent on Telcel. It is slowly opening to other carriers.
Apple managed to sustain its shipments YoY. Keeping the iPhone 11 alive in the region has driven its volume and share.
ZTE’s volume dropped significantly, impacted by increased competition from leading brands.
Xiaomi’s high inventory that it had been carrying since Q2 2022 pushed it out of the top five in Q4 2022.

Background

Analyst Contacts:

Tina Lu

Andres Silva

Peter Richardson

Follow Counterpoint Research
press@www.arena-ruc.com

LATAM Smartphone Shipments Mark Worst Q4 in 9 Years, Fall 14% YoY

LATAM smartphone shipments declined 14.2% YoY in Q4 2022, despite the comparatively slow market in the year-ago period.
Q4 2022 was the worst Q4 in the last nine years.
In 2022, Samsung remained the absolute leader in the regional market with a 41.6% share.
5G smartphones captured a 17% share in the region in 2022.

布宜诺斯艾利斯,圣地亚哥,New Delhi, Hong Kong, Seoul, London, Beijing – February 27, 2023

LATAM smartphone shipments declined 14.2% YoY in Q4 2022 to mark the region’s worst Q4 since 2013, according to the latest data fromCounterpoint Research’s Market Monitorservice. Shipments fell despite the comparatively slow market in Q4 2021, which was constrained by supply chain issues.

Commenting on the market dynamics,Principal Analyst Tina Lusaid, “There were a few factors that fueled the fall in shipments in Q4 2022. First, many channels ended Q3 2022 with very high inventory. Second, operators and retailers were very conservative in their sourcing as consumer demand was expected to remain weak in Q4 2022. Last but not least, the FIFA World Cup in 2022. The tournament usually takes place in June or July, but this time it was held in November. Consumers traditionally upgrade TVs during the FIFA World Cup season and smartphone sales usually decline. 2022 was no different. However, smartphone sales in Q4 2022 did not decline too much as OEMs and operators offered many promotions on Black Friday and Christmas that stimulated consumer demand, and as most channels were sitting on high inventories. The inventory issue in the region has improved but has not been completely resolved.”

Top Smartphone OEMs’ Market Share in Latin America, Q4 2022 vs Q4 2021

Source: Counterpoint Research Q4 2022 Market Monitor

Luadded, “LATAM smartphone shipments decreased 5.5% YoY in FY 2022 as consumer demand declined due to high inflation, regional political instability, and weak regional currency. On top of that, smartphone prices increased in most local currencies. All these are slowing down smartphone replacement. 5G technology is slowly picking up as many operators are driving its growth, and it is not just in the premium price band. However, 5G smartphones only captured 17% of the regional smartphone market in 2022.”

Top Smartphone OEMs’ Market Share in Latin America, Q4 2022 vs Q4 2021

Source: Counterpoint Research Q4 2022 Market Monitor

Commenting on the performance of OEMs in the region,Research Analyst Andres Silvasaid, “During 2022, Samsung widened its lead in the LATAM market, as its share was more than double that of the next competitor. There has been a significant increase in brand concentration in the region. During 2021, the top five brands represented more than 82% of the market, a 3.5% increase YoY. Three of the top five OEMs gained market share during this period. As the market contracts, big brands that have deeper pockets for promotion and more brand recognition will leave fewer opportunities for smaller brands.”

Market Summary

Samsung, with a 41.6% share, remained the absolute leader in the regional market. Its leadership is based on its number one rank in every market in the region and its strong supply of entry-level models in the region.
It was also the brand with the highest inventory buildup in LATAM.
Samsung’s volume grew in 2022 compared with the previous year, when it had a sales issue with Mexico’s biggest operator Telcel.
Motorola’s market share was less than half that of Samsung, but it was the firm runner-up in the LATAM region. Brazil, Mexico, and Argentina drove the brand’s volume.
Its shipment volume and share declined as the brand’s entry-level models were in short supply.
Xiaomi’s market share and volume declined YoY in 2022. The brand marked its lowest volume since Q1 2021. Xiaomi has been losing its growth momentum in the region, partially affected by Mexico’s premium price band and its inventory buildup.
Apple’s market share in the region increased YoY in Q4 2022 and FY 2022, driven by the iPhone 11. The OEM keeps pumping the 2019 model into the region. It has been Apple’s bestselling model in the region.
OPPO entered the region’s top five brands list in 2022 with Mexico driving the company’s growth. In terms of shipments, OPPO ranked third in the country in Q4 2022. However, the brand is still lagging in the rest of the region.
OPPO was the only brand that also grew in volume during Q4 2022.
ZTE performed weakly throughout 2022. Its sales increased slightly by the end of the year, but it was still a significant drop YoY.
Although HONOR increased YoY in 2022, its growth is flattening. So far, the brand has utilized its good relationship with the carriers to promote its offerings. But now, it needs to build branding to continue growing.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the technology, media, and telecom (TMT) 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

tina@www.arena-ruc.com

Andres Silva

andres.silva@www.arena-ruc.com

Peter Richardson

Peter@www.arena-ruc.com

Follow Counterpoint Research
press@www.arena-ruc.com

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