The smartphone market in Latin America (LATAM) saw its shipments increase 9.3% YoY in the last quarter of 2024. This was the sixth consecutive quarter to see YoY growth. Argentina, Chile, Peru and other markets in the region were key drivers of this growth.

Samsung, the leader in LATAM had shipments grow YoY despite stiff competition from Chinese brands in the low-price segment and from Apple in higher price bands. Apple did exceedingly well in Q4-24 with shipment up by 33%. 5G smartphones represented 38% of the sales in Q4 2024. Samsung, Motorola and Apple led 5G smartphone sales in the region.

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Apple’s shipments in Brazil and Mexico, its best-performing markets in the region, grew YoY and QoQ. Unlike previous years, the growth was primarily driven by the new iPhone 16 Pro Max. However, legacy models continued to hold a larger share of shipments due to their favorable price for the given specifications.

We'll have to wait until Q1 2025 results come in to see whether the new iPhone 16e, at its disappointing higher price, will further move the needle in Latin America and other emerging markets.