Buenos Aires, New Delhi, Hong Kong, Seoul, London, Beijing, San Diego – December 23, 2021
Mexico’s smartphone market saw impressive growth during Q3 2021 even as many LATAM markets were heavily impacted by the ongoing component shortages. The country’s smartphone shipments grew 13.3% YoY and 14.2% QoQ in Q3 2021. The same quarter last year had seen COVID-19 affecting the region’s smartphone market.
Commenting on the market dynamics, Principal Analyst Tina Lu said, “Mexico’s market is the second largest in Latin America, and its TAM (total addressable market) is getting closer to Brazil. Although the Mexican population is only around 60% of that of Brazil, its TAM is close to 80% compared to Brazil. Mexico is an operator-driven market but still is one of the most competitive.”
Lu added, “Mexico is often the first market chosen by brands to enter LATAM. This helps the country’s consumers to access a variety of brands and models. This also results in a low-concentration market that allows many brands to have similar shares. Motorola is the current leader in this competitive market. The brand had an extraordinary performance for most of 2021. Mexico is the only market in which Motorola is the leader.”
Source: Counterpoint Research Market Monitor, Q3 2021 | Note: Xiaomi includes POCO
Market Summary
Background
Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.
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