A new Counterpoint report this morning covers Q3-24 statistics covering the "LATAM (Brazil, Mexico, Chile, Argentina, Venezuela) smartphone market with shipments climbing 11.2% YoY, marking three straight quarters of double-digit growth. The expansion was fueled by fierce competition in the region led mainly by Chinese brands, which have been increasing their presence here. During the quarter, the market started growing its inventory ahead of the holiday season, which starts in November and ends in January.

Apple’s volumes rose 21% YoY in the region, driven mostly by Brazil and Mexico. Apple has been lowering the price of legacy models more aggressively with local assembling in Brazil. The iPhone 13 was the best-selling Apple model in the region in Q3 2024. The iPhone 16 was launched at different schedules in the region, with only Mexico a part of the global launch. All other countries’ presales took place one or two weeks after the global launch, with sales in other countries set to start in early October."  Apple's 2025 iPhone SE 4 will allow Apple to make further gains in this market.

The report further noted that "Samsung's volume increased by around 5% YoY in Q3 2024 after two years of continued quarterly YoY decline – though lost market share from Q3-23 to Q3-24 as noted in the chart above. The brand is partnering with credit cards and banks in the region to offer discount coupons or different methods of payment such as installments. Samsung aggressively stocked inventory ahead of the holiday season, enabling the brand to reclaim its leadership position in most countries in the region. The recovery of markets such as Argentina also helped Samsung retain its leadership."