Apple experienced annual growth of 20%!
There are markets in which Apple has undisputed dominance and others in which it perseveres until it achieves it. Despite the global contraction in smartphone shipments in the first months of last year, Latin American smartphone market grew 20% in Q4 2023 and Apple was among the top choices, particularly in Mexico and Brazil.
According to a report by smartphone analytics firm Canalys, the overall market rise is mainly due to intensified initiatives by brands and channels to replenish stocks. For the whole of 2023, The market grew by 2%, reaching a total of 118.9 million units. While the recovery in the second quarter responded to a favorable device replacement cycle.
Apple grew more than other Latin American companies
In the top five best-selling brands Apple took fifth place preceded by Samsung, Motorola, Xiaomi and Transsision.
According to Miguel Pérez, senior consultant at Canalys:
Apple recorded annual growth of 20%, driven largely by its success in Brazil and Mexico.which accounted for 85% of iPhone 15 series shipments.
Samsung positioned itself as a leader in the region but its market share fell below 30% for the first time since the fourth quarter of 2014while challenger brands such as Xiaomi, TRANSSION and ZTE have increased their volumes at entry level.
Despite persistent socio-economic challenges in Latin America, Canalys forecasts 3% growth in the regional smartphone market in 2024.
The apple grows in Brazil
In this context, Apple’s particular growth in Brazil is also due to another decision by the company with the bitten apple.
Since last year, Foxconn Brazil has been assembling some iPhone models and this year it has already been confirmed that the 6.1-inch iPhone 15 is also being manufactured, with which users have noticed a significant difference when of purchasing the device, before this decision. , was one of the most expensive in the world, due to high import tax rates.
In comparison, The 128GB iPhone 15 launched for 7,299 reais (around $1,460) in Brazil, but now can be found for just 5,399 reais (around $1,080) in some retail stores.
During the first quarter of 2023, a report from Counterpoint indicated that Apple’s iPhone market share increased in Latin America in the first quarter and Apple’s CEO acknowledged that it was indeed a record quarter in the region. Today, the trend will probably continue and those who bite the apple can gain a few additional positions in a market controlled by Asian companies.
