Apple Smartphone Sales Surge in Latin America During Q3 2024
Apple Sees Surge in Latin America as Smartphone Market Booms
latin America’s smartphone market is experiencing a resurgence, with shipments jumping 11.2% year-over-year in the third quarter of 2024, marking the third consecutive quarter of double-digit growth. This surge is largely fueled by intense competition, particularly from Chinese brands expanding their presence in the region.
[Image: 2 chart LATAM Q3-24]
Apple is riding this wave of growth, with volumes increasing by an impressive 21% year-over-year in the region. This success is driven by strong performance in Brazil and Mexico, where Apple has been aggressively lowering prices on older models through local assembly in Brazil. The iPhone 13 emerged as the best-selling Apple model in the region during Q3 2024.
While the iPhone 16 launched globally in some markets, including Mexico, other Latin American countries saw pre-orders begin one to two weeks later, with sales kicking off in early October. Looking ahead, Apple’s upcoming iPhone SE 4, expected in 2025, is poised to further strengthen the company’s position in this burgeoning market.
Samsung, the longtime market leader, also saw a 5% year-over-year increase in shipments during Q3 2024, snapping a two-year streak of quarterly declines. However, the company lost some market share compared to Q3 2023.
[image: 10.0F1 – Apple Market Statistics Bar]
To regain momentum,Samsung is partnering with financial institutions to offer discounts and flexible payment options,such as installments. The company also strategically increased inventory ahead of the holiday season, which runs from November to January, helping it reclaim its leading position in most latin American countries. The recovery of markets like Argentina also contributed to Samsung’s resurgence.
Apple Rides Latin America’s Smartphone Surge
NewsDirect Directory – Latin America’s smartphone market is back with a vengeance, experiencing double-digit growth for the third consecutive quarter.Fuelled by intense competition, especially from expanding Chinese brands, shipments jumped 11.2% year-on-year in Q3 2024.
Riding this wave is Apple, which saw a remarkable 21% increase in volumes year-on-year across the region. strong performance in brazil and Mexico, where the tech giant has been aggressively lowering prices on older models through local assembly in Brazil, is a key driver of this success. The iPhone 13 emerged as the best-selling Apple model in the region during Q3 2024.
While the iPhone 16 launched globally in some markets, including Mexico, other Latin American countries saw pre-orders begin one to two weeks later, with sales kicking off in early October.Looking ahead, apple’s upcoming iPhone SE 4, expected in 2025, is poised to further solidify the company’s position in this burgeoning market.
Samsung, the long-reigning market leader, also experienced a 5% year-on-year increase in shipments during Q3 2024, snapping a two-year streak of quarterly declines. However, the company did loose some market share compared to Q3 2023.
To regain momentum, Samsung has partnered with financial institutions to offer discounts and flexible payment options, such as installments. The company also strategically increased inventory ahead of the holiday season, which runs from November to January, helping it reclaim its leading position in most Latin American countries. The recovery of markets like Argentina also contributed to Samsung’s resurgence.
We spoke to industry analyst, carlos Rodriguez, to better understand this dynamic market:
NewsDirect: What’s driving the surge in Latin America’s smartphone market?
Rodriguez: ”A confluence of factors is at play. Firstly, increased competition, particularly from Chinese brands offering feature-rich devices at attractive price points, is expanding the market. Secondly, economic recovery in some key markets like Brazil and Mexico, coupled with growing middle-class populations, is driving consumer spending on smartphones.”
NewsDirect: How is apple capitalizing on this trend?
Rodriguez: “Apple’s strategy is twofold – aggressive pricing on older models through local assembly,making iPhones more accessible in price-sensitive markets,and a fervent focus on the premium segment with its flagship models like the iPhone 16”.
NewsDirect: How does Samsung plan to maintain its market leadership?
Rodriguez: “Samsung is leveraging its established brand loyalty and extensive distribution network. By offering flexible payment options and focusing on inventory management for peak seasons, they aim to remain competitive. Though, they need to keep innovating and offering compelling features at competitive price points to stay ahead of the curve.”
NewsDirect: What does the future hold for the Latin American smartphone market?
Rodriguez: “The outlook is very positive.Increased smartphone penetration, coupled with the rollout of 5G networks, will further stimulate growth. We can expect to see more innovative features, increased customization options, and a continued expansion of the mid-range and affordable smartphone segments.”