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Mexico Smartphone Shipments Plunge 21% YoY in Q4 2022

Samsung remained the market leader with a 27.1% share, followed closely by Motorola with 22.6%.
OPPO took the third spot in the Mexican smartphone market for the first time.
5G smartphones captured a 21% share of the market in Q4 2022.

Buenos Aires, San Diego, New Delhi, Hong Kong, Seoul, London, Beijing – March 28, 2023

Going through one of its toughest years, Mexico’s smartphone market saw its shipments fall 21% YoY in Q4 2022, according to the latest data from Counterpoint Research’s Market Monitor service. The total addressable market (TAM) too decreased by 7% YoY.

Commenting on the market dynamics, Principal Analyst Tina Lu said, “Mexico is the second biggest smartphone market in the Latin American region. With its low import taxes and no entry barriers, Mexico is also the favorite market for many OEMs to launch their Latin America operations. But it still has its caveats, like the operators that dominate the channel, especially Telcel.”

Lu added, “High inflation combined with political turmoil has led consumers to delay their smartphone purchases. On the other hand, many sales channels were still carrying high inventory in Q4. All this led to a sudden drop in shipments. The market is not expected to return to growth in H1 2023 due to continued economic turbulence and H1 2022 shipments being high. It is more likely to remain flat and grow 1-2% in the best case.”

Commenting on the performance of OEMs in the market, Vice President of Research Peter Richardson said, “The shipment drop has also led to increasing brand concentration. In Q4 2021, the top five players represented 78.7% of the total shipments, while in Q4 2022, the top five, with slightly different players, represented 84.2% of the total shipments. Bigger players with stronger brand recognition managed to keep shipping, while the smaller brands felt the impact of a falling market more strongly.”

Top Smartphone OEMs’ Market Share in Mexico, Q4 2022 vs Q4 2021

Source: Counterpoint Research Q4 2022 Market Monitor

Market Summary

Most OEMs’ volume decreased YoY but increased in share as the overall market declined.
Samsung’s volume decreased YoY but increased in share, maintaining the brand’s top position in the market. Samsung’s share increased thanks to its larger portfolio and volume in the entry-level price segment.
Motorola, which has led the rankings from time to time, finished second as its shipments contracted following efforts to decrease inventory.
OPPO, which was relaunched in Mexico less than three years ago, was the only brand to manage a marginal YoY growth in shipments. However, OPPO’s success in the country is very dependent on Telcel. It is slowly opening to other carriers.
Apple managed to sustain its shipments YoY. Keeping the iPhone 11 alive in the region has driven its volume and share.
ZTE’s volume dropped significantly, impacted by increased competition from leading brands.
Xiaomi’s high inventory that it had been carrying since Q2 2022 pushed it out of the top five in Q4 2022.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the technology, media and telecom (TMT) 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.

Analyst Contacts:

Tina Lu

Andres Silva

Peter Richardson

Follow Counterpoint Research
press@counterpointresearch.com

Samsung, Apple, ZTE, HONOR Shine as Colombia Smartphone Shipments Decline 3% YoY in 2022

Apple and Samsung shipped 26% and 14% more smartphones YoY amid market declines.
HONOR rose 200% YoY driven by its multi-channel and multi-device strategy.
ZTE rose 50% YoY due to its low-price-band portfolio and increasing spots in the open channel.

Bogota, Buenos Aires, New Delhi, Hong Kong, Seoul, London, Beijing, San Diego – March 13, 2023

Colombia’s smartphone shipments fell 3% YoY in 2022, according to the latest research from Counterpoint’s Market Monitor service. OEMs recorded mixed numbers, ranging from rising stars like HONOR with a 200% YoY growth to incumbents like HMD with double-digit declines of more than 40%.

Principal Analyst Tina Lu said, “Like the rest of the region, Colombia is being affected by macroeconomic headwinds, just a bit more due to the risks connected with the new government. It has decreased the number of VAT-free days, which used to be the main events for driving sales. But still, the shipment decline was much less compared to LATAM’s 5.5% YoY fall. This is because Colombia’s market finished the year with a higher level of inventory.”

Research Analyst Andres Silva said, “Inventory was the biggest worry of OEMs in 2022. Samsung, Apple and ZTE grew in double digits in 2022, reflecting the importance of tried and tested channel management processes in the country. Also, brand equity plays a key role – with economic uncertainty, consumers tend to prefer known brands. Motorola and Xiaomi suffered specifically in the premium and flagship devices. Even local kings, or the ‘Others’ category, shipped 8% less YoY.”

Commenting on the overall market outlook, Silva said, “Going forward, the market might continue to decline as end users are showing more appetite for experiences. For example, concerts and outdoor activities increased 37% YoY in 2022, the second year of post-COVID reopening. The replacement cycle continues to lengthen while shipment units recover to pre-pandemic levels. Nevertheless, the market still has room to grow – sub-$200 5G devices can become popular if the 5G network rollout picks up.”

Colombia Smartphone Shipment Share, 2021 vs 2022

Source: Counterpoint Research Q4 2022 Market Monitor

Note: Figures may not add up to 100% due to rounding

2022 full-year market summary

Despite the seasonality associated with Q4, which is usually the strongest quarter of the year due to Black Friday and the Christmas holiday season, Q4 2022 could not avoid the 2022 trend of a decrease in consumer demand.

Inflation eased and the peso’s position improved slightly towards the end of Q4, but still, they could not compensate for the purchasing power lost throughout the year.

Samsung grew 14% YoY, with its H2 2022 being better than H2 2021 (+27% YoY). Supply chain constraints were encountered by the OEM in 2021. Also, the Buds 2 bundle offer attracted upgraders and new customers throughout the year.

Motorola declined 38% YoY, with high inventory levels of the Edge 30 series in the operator channel and of the G60 and G60s series in the open channel.

Xiaomi dropped 10% YoY on premium device stocks at stores and the last legs of the Redmi Note 11 series, which slipped drastically in Q4 2022.

ZTE’s shipments increased 50% YoY benefiting from the demand in low-mid and low segments, which are exempt from VAT. Also, ZTE offered device insurance on purchases through the open channel.

Apple was up 26% YoY despite restrictions on its 5G devices following Ericsson’s case against the brand over 5G patent infringement. The iPhone 11, a 4G device, was the OEM’s top-selling model.

TECNO saw another year without a trace of presence in the operator channel. The double-digit YoY loss reflects its lack of exposure to most customers.

HONOR registered the biggest growth of the year at 200% YoY. A multi-channel and multi-device strategy paid off for the brand. The OEM is on track to build brand appeal among Colombians.

OPPO grew 11% YoY driven by in-store marketing activities like an extra warranty (one year more than competitors) on its devices.

vivo’s bet on the FIFA World Cup did not bring results as Colombians failed to find in retail the devices it was promoting.

The ‘Others’ category, mainly composed of local kings, saw an 8% YoY decline. This category’s performance is highly correlated to economic health.

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.

Analyst Contacts:

Tina Lu

Andres Silva

Peter Richardson

Follow Counterpoint Research
press@counterpointresearch.com

LATAM Smartphone Shipments Mark Worst Q4 in 9 Years, Fall 14% YoY

LATAM smartphone shipments declined 14.2% YoY in Q4 2022, despite the comparatively slow market in the year-ago period.
Q4 2022 was the worst Q4 in the last nine years.
In 2022, Samsung remained the absolute leader in the regional market with a 41.6% share.
5G smartphones captured a 17% share in the region in 2022.

Buenos Aires, San Diego, New Delhi, Hong Kong, Seoul, London, Beijing – February 27, 2023

LATAM smartphone shipments declined 14.2% YoY in Q4 2022 to mark the region’s worst Q4 since 2013, according to the latest data from Counterpoint Research’s Market Monitor service. Shipments fell despite the comparatively slow market in Q4 2021, which was constrained by supply chain issues.

Commenting on the market dynamics, Principal Analyst Tina Lu said, “There were a few factors that fueled the fall in shipments in Q4 2022. First, many channels ended Q3 2022 with very high inventory. Second, operators and retailers were very conservative in their sourcing as consumer demand was expected to remain weak in Q4 2022. Last but not least, the FIFA World Cup in 2022. The tournament usually takes place in June or July, but this time it was held in November. Consumers traditionally upgrade TVs during the FIFA World Cup season and smartphone sales usually decline. 2022 was no different. However, smartphone sales in Q4 2022 did not decline too much as OEMs and operators offered many promotions on Black Friday and Christmas that stimulated consumer demand, and as most channels were sitting on high inventories. The inventory issue in the region has improved but has not been completely resolved.”

Top Smartphone OEMs’ Market Share in Latin America, Q4 2022 vs Q4 2021

Source: Counterpoint Research Q4 2022 Market Monitor

Lu added, “LATAM smartphone shipments decreased 5.5% YoY in FY 2022 as consumer demand declined due to high inflation, regional political instability, and weak regional currency. On top of that, smartphone prices increased in most local currencies. All these are slowing down smartphone replacement. 5G technology is slowly picking up as many operators are driving its growth, and it is not just in the premium price band. However, 5G smartphones only captured 17% of the regional smartphone market in 2022.”

Top Smartphone OEMs’ Market Share in Latin America, Q4 2022 vs Q4 2021

Source: Counterpoint Research Q4 2022 Market Monitor

Commenting on the performance of OEMs in the region, Research Analyst Andres Silva said, “During 2022, Samsung widened its lead in the LATAM market, as its share was more than double that of the next competitor. There has been a significant increase in brand concentration in the region. During 2021, the top five brands represented more than 82% of the market, a 3.5% increase YoY. Three of the top five OEMs gained market share during this period. As the market contracts, big brands that have deeper pockets for promotion and more brand recognition will leave fewer opportunities for smaller brands.”

Market Summary

Samsung, with a 41.6% share, remained the absolute leader in the regional market. Its leadership is based on its number one rank in every market in the region and its strong supply of entry-level models in the region.
It was also the brand with the highest inventory buildup in LATAM.
Samsung’s volume grew in 2022 compared with the previous year, when it had a sales issue with Mexico’s biggest operator Telcel.
Motorola’s market share was less than half that of Samsung, but it was the firm runner-up in the LATAM region. Brazil, Mexico, and Argentina drove the brand’s volume.
Its shipment volume and share declined as the brand’s entry-level models were in short supply.
Xiaomi’s market share and volume declined YoY in 2022. The brand marked its lowest volume since Q1 2021. Xiaomi has been losing its growth momentum in the region, partially affected by Mexico’s premium price band and its inventory buildup.
Apple’s market share in the region increased YoY in Q4 2022 and FY 2022, driven by the iPhone 11. The OEM keeps pumping the 2019 model into the region. It has been Apple’s bestselling model in the region.
OPPO entered the region’s top five brands list in 2022 with Mexico driving the company’s growth. In terms of shipments, OPPO ranked third in the country in Q4 2022. However, the brand is still lagging in the rest of the region.
OPPO was the only brand that also grew in volume during Q4 2022.
ZTE performed weakly throughout 2022. Its sales increased slightly by the end of the year, but it was still a significant drop YoY.
Although HONOR increased YoY in 2022, its growth is flattening. So far, the brand has utilized its good relationship with the carriers to promote its offerings. But now, it needs to build branding to continue growing.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the technology, media, and telecom (TMT) 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.

Analyst Contacts:

Tina Lu

tina@counterpointresearch.com

Andres Silva

andres.silva@counterpointresearch.com

Peter Richardson

Peter@counterpointresearch.com

Follow Counterpoint Research
press@counterpointresearch.com

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