A new report has just revealed interesting information related to the LATAM (Latin American) smartphone market for the year 2021. In the region, Samsung took the throne with the highest market share and a notable growth year on year.
According to Counterpoint Research, the LATAM smartphone market saw an overall growth of 13.4 percent last year over 2020. Although, this figure was still 9 percent lower than that of 2019. As per Principal Analyst Tina Lu, “Most LATAM countries saw YoY growth driven by Chinese brands entering the region and increasing competition. But Brazil’s TAM decreased YoY. With local manufacturing/assembly representing more than 80% of its smartphone volume, Brazil felt the full impact of component shortages.”
During 2021, most brands saw growth in sales volume, but some companies saw higher growths. Samsung lead the market in 2021 and even in the fourth quarter as well. It was the leader in a number of nations, except, Argentina and Mexico. The South Korean tech giant managed to see a strong performance in Latin America despite suffering from supply shortages. Meanwhile, Motorola came second, leading in Argentina and Mexico, and seeing an impressive 39 percent growth year on year as well.
Furthermore, LG’s departure from the smartphone market also left a void in the market, especially in the entry level segment. So brands competed intensely to take advantage of LG exiting the segment. With more and more Chinese brands enter the region, the competition is also rising, so it remains to be seen how they shake up the market in the coming quarters.
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