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Insights Tag: Smartphone Latam

Latin America Smartphones Still Feeling Supply Constraint Headwinds

  • LATAM smartphone shipments decreased 5.8% YoY in Q1 2022.
  • Samsung led the market with 44.3% share followed by Motorola with 17.1% share.

Buenos Aires, New Delhi, Hong Kong, Seoul, London, Beijing, San Diego – June 8, 2022

Q1 2022 smartphone shipments dropped 5.8% YoY, affected by supply constraints, mainly among the Chinese brands. Also, last year’s first quarter sell-in was especially high making year on year comparisons tough. The supply issues are improving but might continue to be a drag for the rest of the year.

Commenting on the market dynamics, Principal Analyst Tina Lu said: “During Q1 2022, OEMs in LATAM (includes the Caribbean and Latin America) were in a fierce price war, which mitigated the impact of consumer demand that started to contract, but it might not be the same moving forward, especially in the mid-high price band segment smartphones. 5G devices volume and penetration continue to grow; in Q1 2022, 5G devices represented 15% of the smartphones sold in the region. Brazil, Mexico and Chile lead 5G-enabled sales volume and penetration share. Samsung overtook Apple to become the leading vendor in 5G-enabled device sales.”

Top Smartphone OEMs’ Market Share in Latin America, Q1 2021 vs Q1 2022

Source: Counterpoint Research Q1 2022 Market Monitor

 

Lu added: “Chinese brands might not yet have the power to drive growth. Samsung increased its share in the region and continued leading the LATAM market, driven by Brazil and shipments of the Galaxy A 03 model family. Motorola’s shipment decline was caused by the Chinese New Year and other supply chain disruptions. This impacted it in most markets except for Argentina. Xiaomi decreased share slightly, impacted by supply chain issues, but it increased its ASP.”

Market Growth in Latin America Biggest Countries, Q1 2022

Source: Counterpoint Research Q1 2022 Market Monitor

Commenting on country performance, Research Analyst Andres Silva, said: “Most of LATAM’s biggest countries followed the regional trend of YoY declines, except for Chile, which slightly improved. Chile is one of the most stable countries in the region. Mexico was flat YoY, fueled by Chinese brands entering the market and increased competition. Samsung is also resolving its issues with Telcel. Brazilian local manufacturing/assembly improved, but it is still impacted by component supply chain shortages.”

Q1 2022 Market Summary

  • Samsung retained leadership in all LATAM markets.
  • Samsung’s volumes declined YoY and QoQ, impacted by the decline in shipments from its Vietnam factory. But sell-in volume still outpaced most Chinese brands, so its share increased YoY and QoQ. Telcel Mexico’s issue with Samsung is slowly settling. Samsung did not have enough supply in the entry-level segment, so it saw a slight YoY decrease in its sales volume in this segment, particularly in Brazil and Mexico.
  • Motorola’s shipments dropped YoY and QoQ. Its sales declined following a lack of supply due to the Lunar New Year break in China and inventory issues.
  • Xiaomi continued to grow YoY, though it dropped compared to the previous quarter. It is strengthening its position in the region. But most of its volume is based on the Xiaomi Redmi Note series. It will need to become more aggressive with its entry-level A series to continue to grow in LATAM. Xiaomi is offering aggressive pricing and promotions, but still lacks strong brand recognition. The brand is facing some high inventory issues in its mid-high price segment models.
  • In Q1 2022, Xiaomi officially entered the Argentina market, but did not immediately make much headway achieving only 1% market share through April 2022.
  • Since the beginning of 2022, Apple’s supply into the region increased YoY in most of its markets resulting in the brand’s share increasing. Apple is expensive for the region’s average consumer but is considered a desirable brand. So, countries with high ASPs, such as Chile and, to a lesser extent, Brazil, account for most of its volume in the region.
  • ZTE continued to be the principal provider of entry-level devices with most of its sales coming from <$100 models.
  • Others brands continued to drop YoY as the Chinese new year and component shortages impact smaller Chinese brands and local brands, especially in the entry-level segment.

 

Background

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

+54 91160411221
tina@counterpointresearch.com

Andres Silva

+57 3004929435

andres.silva@counterpointresearch.com

Peter Richardson

+44 7917231934
Peter@counterpointresearch.com

Follow Counterpoint Research
press@counterpointresearch.com       

LATAM Smartphone Market Felt the Full Impact of COVID-19 in Q1 2020

Q1 2020 smartphone shipment in the LATAM market declined 20.8% YoY.

Xiaomi shipment grew more than 203%.

New Delhi, Hong Kong, Seoul, London, Beijing, San Diego, Buenos Aires – June 2nd, 2020

 

In the first quarter of 2020, the Latin American smartphone market declined 20.8% YoY and 30.1% from Q4 2019, according to the latest research from Counterpoint’s Market Monitor service. The first quarter in LATAM is typically slow due to the summer recess in the Southern hemisphere. But this year, it was also impacted by COVID-19. The drastic drop in the shipment of smartphones exposes the relatively low penetration of online sales in the region.

Commenting on the market’s development, Counterpoint Research Senior Analyst, Tina Lu, said: “As this year’s Chinese New Year took place before the end of January, and factories in China were scheduled to remain closed for part of February, many brands built enough inventory to last until March. So, despite the COVID-19 measures preventing factories from reopening, sales channels, in most LATAM countries, were not affected by the lack of supply. Brazil and Argentina were the only two countries that suffered due to component supply issues from China”.

Tina added: “From the consumer side, COVID-19 hit the region only during March, when most LATAM countries started to lockdown. The degree of lockdown varied among countries. Argentina, Colombia, Ecuador, and Peru had complete lockdowns for the first few weeks, with everything closed except food stores, groceries, pharmacies, and pet stores. Products sold online were not allowed to be delivered unless deemed essential”.

Exhibit 1: Smartphone Shipment Decline by Region & Country, Q1 2019 vs Q1 2020

Source: Counterpoint Research Market Monitor Q1 2020

Commenting on the brands’ performance, Parv Sharma, Research Analyst, highlighted: “Another effect from the regional shutdown was the increase in brand concentration. The top 5 brands represented 76.3% share of the smartphone market, 3.3 percentage points higher than the same quarter last year. Xiaomi was the only brand that increased its volume during Q1 2020. Samsung dropped in volume but managed to increase its share. The vendor’s production pivot to Vietnam reduced China supply chain exposure, positioning it well among more China-dependent competitors”.

 

Exhibit 2: Smartphone Shipment Market Share 2020 Q1

Source: Counterpoint Research Market Monitor Q1 2020

 

Key Takeaways

  • Samsung was once again the absolute leader in the region. The COVID-19 crisis benefited it by increasing its share and widening the gap to its closest competitor.
  • Motorola’s shipment decreased by more than -26% compared to the same period last year. Motorola has manufacturing sites in Wuhan, which impacted the brand’s supply chain during most of February and part of March.
  • Despite the drop in shipment volume for Motorola, most of LATAM market sales channels did not experience a lack of inventory from the brand, during the quarter.
  • Huawei share and volume was also impacted, but not so much by the COVID-19 crisis. Instead, it was hit by the US trade ban. Mexico and Chile remain Huawei’s biggest markets, representing more than 60% of its regional volume. However, it has been steadily losing steam in Colombia.
  • Xiaomi more than tripled its volume YoY. It has started to get aggressive in Brazil, in which it has already opened two stores this year in Sao Paulo. It is also negotiating to start local manufacturing.
  • LG continues to decline YoY in the region. Brazil and Argentina remain the only markets in which it manages to hold market share.
  • Apple grew in volume and share compared to the same period last year. iPhone 11 is driving the growth of Apple in the region.
  • Other brands also saw steep decreases, with many at around half the volume from a year ago. This included not only ‘local kings’ but also small Chinese brands, which were all impacted by handset supply issues.
  • The feature phone market only declined by 0.3%. It has proven to be more resilient than the smartphone market.

 

The comprehensive and in-depth Q1 2020 Market Monitor is available for subscribing clients. Please feel free to contact us at press@counterpointresearch.com for further questions regarding our latest in-depth research, insights or for other press enquiries.

The Market Monitor research is based on sell-in (shipments) estimates based on vendor’s IR results, vendor polling triangulated with sell-through (sales), supply chain checks and secondary research.


 

Analyst Contacts:

Tina Lu

+54 91160411221

tina@counterpointresearch.com

Parv Sharma

+91 974-259-6030

Parv@counterpointresearch.com

Peter Richardson

+44 791-723-1934

Peter@counterpointresearch.com

 

Follow Counterpoint Research press@counterpointresearch.com    

Will Huawei’s Extraordinary Growth Story in LATAM Come to a Grinding Halt?

Huawei has been building momentum in LATAM with record volumes and a growth of 51% year-on-year (YoY) during 2018. Its growth came at a time when the market declined by 1%. And it isn’t as if Huawei was slowing down. In Q4 2018, its volume growth reached 130%, YoY. Astonishingly, this growth came despite Huawei not being present in around 37% of the LATAM smartphone market as it does not operate in Brazil and exited Argentina in Q3 2018.

By the end of 2018, Huawei was the leader of the market in Peru and a very solid number two in Chile and Colombia. In Colombia, Huawei became the second largest brand in 2018 and also the leading Chinese brand with 24% market share after including sales of its co-brand HONOR.  HONOR entered Colombia in H2 2018, and quickly picked-up share. In Mexico, its biggest LATAM market, Huawei has been increasing volumes through a two for one mix between high and low-price band devices and recently challenged Samsung to be the number one brand in the country. Even in Peru, Huawei keeps challenging for the top spot.

Exhibit 1: Huawei LATAM Shipment Volume Share Evolution

Source: Counterpoint Research Market Monitor

Part of Huawei success in LATAM is due to its improving reputation for offering excellent quality products. Heavy spending on marketing; up to several millions of dollars yearly, in sponsorship, and both online and offline campaigns has successfully built the Huawei brand in the region.

Further, its sales team was big enough to help the brand get into all channels and carriers. Huawei even opened flagship repair stores in most of the capital cities of the biggest countries in LATAM. All these efforts were quite synchronized.

However, just as it seemed Huawei was about to reach a peak for its consumer business unit, the US government decided to impose the export ban. Under a business-as-usual scenario, Huawei’s diligent efforts to enter Brazi would likely have been successful and further boosted its presence in LATAM. But in the current geopolitical environment, entering Brazil looks increasingly unlikely. For the short-term, it will be difficult for Huawei to maintain momentum in LATAM. Counterpoint Research’s analyst team has measured the multiple impacts of the ban in LATAM and other regions, as well as other Huawei business units.  This analysis is available to all subscribing clients.

 

2018: The Year That LATAM Smartphone Market Started to Decline

Political and economic uncertainty in the region affected smartphone sales as three major markets witnessed presidential elections.

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

March 1st, 2019

Smartphone shipments in the LATAM region declined by more than 1% year-on-year in 2018, making it the first time ever that the market has contracted in the region, the latest data from Counterpoint Research shows.

While declining smartphone sales was a global phenomenon in 2018, the LATAM region caught up with the trend at the drop of a hat due to the political and economic uncertainties in the region. Commenting on the overall market, Tina Lu, Senior Analyst at Counterpoint Research said, “With the exception of Chile, most countries in LATAM had a year-on-year decline in smartphone sales driven by the slowdown in the rate of replacement. The year was also marked by political and economic uncertainty across the region. Colombia, Mexico, and Brazil witnessed presidential elections which added to the political turmoil. The decline was led by Argentina and Brazil. While 2018 was particularly bad for Brazil as it was suffering from an economic crisis stemming out of the political uncertainty in the country, there could be some recovery in 2019. Argentina’s problems appear to be more long term as it is not possible to fix the inflationary economy in the short-term.”

Tina added that while the LATAM consumer has slowdown replacements, investment in a new phone is increasing. “Overall average selling price (ASP), in LATAM increased by 5% year-on-year. The top brands saw an increase in ASP while second-tier brands had a decline in ASP. The price band of US$150-US$249 grew more than 10% year-on-year, driving the overall ASP growth”.

In terms of the performance of various brands, Samsung’s leadership in the LATAM market started to face challenges in 2018. Commenting on the performance of various brands, Parv Sharma, Research Analyst at Counterpoint Research said, “Samsung’s leadership position has been challenged for the first time in the LATAM market since it became the top brand in 2012. For example, in Peru, it lost its lead to Huawei.  The Korean brand also lost significant share during Q3 2018 as its J series was becoming old and it launched a refreshed version only in Q4 2018. The new J series and other new models, as well as a price cut, helped Samsung recover some market share in Q4 2018.”

Commenting further on the channel development, Parv noted, “Except for Brazil and Argentina, LATAM is still a market dominated by operators.  Although, in the last few years the open market has gained participation in the market.  This is driven by decreasing subsidies from the operator, but mainly by the retail channel offering multiple installment payment plans for unlocked devices.  The possibility to pay on installment is extremely important for the LATAM consumer”.

 Exhibit 1: LATAM Smartphone Market Share

Source: Counterpoint Research Market Monitor Q4 2018

Market Summary:

  • 4G smartphones sales contributed 91% to the total smartphone category during 2018.
  • Top five brands captured 71.6% of the total smartphone market.
  • Samsung led the market, and it still holds almost three times as much market share as the next competitor.
  • Samsung’s share was driven by the new J series. All five top-selling models in LATAM during 2018 was the Samsung J series.
  • Motorola continues to be the second most important brand in the market. Brazil and Argentina market led its success followed by Colombia and Mexico.
  • Motorola’s strong performance came despite the OEM withdrawing its C series from the market at the beginning of 2018. The E series, with a slightly higher ASP, was able to keep up the volumes and even increased it slightly.
  • Huawei had a record shipment in the region. It’s 2018 shipment grew 51% year-on-year by volume.   By the end of the year, the brand was the leader of the market in Peru, and a very solid number two in Chile and Colombia.
  • Huawei is still not present in Brazil and it pulled out of Argentina in Q3 2018. Under current government policies, it might be difficult to enter Brazil in 2019. Huawei faces challenges to manufacture outside of China, and it doesn’t look like it will
  • Yet, Huawei’s biggest increase was in value. It increased its ASP as compared to 2017.
  • Huawei’s best-selling model in 2018 was P20 Lite. This model arrived in LATAM during Q2 2018, nevertheless, it became the top-selling model.  It combined highly desirable features at a reasonable price.
  • LG smartphones shipment decline -31% annually due to decreasing sales in most LATAM countries.
  • Apple increased its share slightly in 2018, although it maintained a very similar volume. Apple managed to do this by keeping iPhone 6 and 6S in some key markets such as Mexico and Chile.
  • Therefore, Apple’s ASP in the region did not grow despite the fact that it launched more expensive models.

The comprehensive and in-depth 2018 Market Monitor is available for subscribing clients. Please feel free to contact us at press@counterpointresearch.com for further questions regarding our in-depth latest research, insights or press enquiries.

The Market Monitor research is based on sell-in (shipments) estimates based on vendor’s IR results, vendor polling triangulated with sell-through (sales), supply chain checks and secondary research.

Analyst Contacts:

Tina Lu

+54 91160411221

tina@counterpointresearch.com

 

Parv Sharma

+91 974-259-6030

Parv@counterpointresearch.com

 

Peter Richardson

+44 791-723-1934

Peter@counterpointresearch.com

 

Follow Counterpoint Research

press(at)counterpointresearch.com    

LATAM Smartphone Market Reached Highest Ever ASP in 2Q18

Growth during the quarter was led by OEMs’ aggressive sell-in.

   New Delhi, Hong Kong, Seoul, London, Beijing, San Diego, Buenos Aires –August 21st, 2018

According to the latest research from Counterpoint’s Market Monitor service, in Q2 2018 the LATAM smartphone shipments grew 2% YoY in volume and 8% in value. Chile and Mexico were the markets that led the growth, driven in part by Huawei and Motorola.

Commenting on the findings Senior Analyst, Tina Lu, said, “LATAM’s smartphone sell-in grew a marginal 2%, despite the economic volatility created by political turbulence. Motorola and Huawei led the volume growth with high double-digit growth, benefiting from the aggressive launch of new products in the mid-range (USD $100-$250) segment.”

Adding further, Tina said, “Consumers in Latin America are slowing down in their replacement rate but investing more money per purchase. Despite the multiple devaluations that most LATAM currencies have experienced during Q2 2018, the smartphone average selling price (ASP) reached USD187, around an 8% YoY increase.  This was the region’s highest ASP ever. LATAM device prices are highly sensitive to currency fluctuations, as most of the countries in the region import devices, and those that require local manufacturing, still depend highly on sourcing parts internationally. Price band growth has been polarizing at both ends of the price spectrum.”

 Exhibit 1: LATAM Smartphone Shipment Share by Brands

LATAM Smartphone Shipments (% Share)

Source: Counterpoint Research: Quarterly Market Monitor Q2 2018

Commenting on the region’s brand evolution, Research Analyst, Parv Sharma, said, “Consumers in the LATAM region need to trust the brand before adopting it. So, this leads to quite a concentrated market with the top five brands, representing almost three-quarters of all the smartphones shipped. These brands have all invested a great deal of resources both in terms of money and management time, within the region, to earn local consumer trust. Huawei enjoyed a 43% YoY growth, the biggest surge among the top five brands. Its success is a result of the company consistently building brand awareness in the region. It has also increased its presence in America Movil. But the channel is quite stacked with Huawei inventory.  Motorola also had double digit volume increase, but its volume growth was leveraged by the C series which took a toll on its ASP.”

 Exhibit 2: LATAM ASP evolution: Q2 2017 vs Q2 2018

LATAM Smartphone ASP Growth by Key Brands
Source: Counterpoint Research: Quarterly Market Monitor Q2 2018

 Market Summary:

  • Samsung captured more than 36% of the LATAM market. It was, once again, the absolute leader in the market, but it lost share YoY.
  • Despite the decline in share, Samsung had a 25% increase in ASP, thanks to increasing midrange sales.
  • Motorola reached 12.4% market share. The refreshed models in the E and G series have increased Motorola’s overall sell-in volumes. However, its Moto C is still the best-selling model and this success affected its ASP, driving it to decline 33% YoY.
  • Huawei reached 11.8% market share. It was third in the market, but just 0.8pp behind Motorola.
  • Huawei’s ASP increased 32% YoY. It is the brand with the highest growth amongst the top selling brands.
  • LG had the biggest YoY drop; a decline of more than 26%. It is the only brand in the top five chart that had flat YoY movement on ASP.
  • Apple remained almost flat with 4% market share, though it had more than 10% growth in ASP.
  • Apple’s ASP growth was driven by the launch of iPhone X which was offset by strong sales of iPhone 6 in the region.

The comprehensive and in-depth Q2 2018 Market Monitor is available for subscribing clients. Please feel free to contact us at press@counterpointresearch.com for further questions regarding our in-depth latest research, insights or press enquiries.

The Market Monitor research is based on sell-in (shipments) estimates based on vendor’s IR results, vendor polling triangulated with sell-through (sales), supply chain checks and secondary research.

Analyst Contacts:

Tina Lu
+54 91160411221
tina@counterpointresearch.com

 

Parv Sharma
+91 974-259-6030
parv@counterpointresearch.com

 

Peter Richardson
+44 791-723-1934
peter@counterpointresearch.com

 

Follow Counterpoint Research
press(at)counterpointresearch.com

2017: A Year of Mixed Results in the Latin American Smartphone Market

According to the latest research from Counterpoint’s Market Monitor service the Latin American (LATAM) smartphone market grew 5% YoY in 2017.  Samsung continues to be the absolute leader of the region with more than 38% share.

Commenting on the 2017 smartphone market trends, Counterpoint’s Senior Analyst Tina Lu, highlighted, “The LATAM smartphone market grew 5% YoY in volume. However, we see a deceleration in the rate of replacement. Despite healthy economic conditions, the market decreased by more than -5% in Q4 2017 when compared to the same quarter in the previous year. This is the first time that the smartphone market has had a YoY decline, denoting that the smartphone market is close to maturity. We expect this softer rate of replacement to continue throughout 2018, leading to a flat year in 2018.”

Miss Lu added: “On the value side, the smartphone market grew only 1% YoY. This was caused by a 17% YoY decrease of the premium segments (>$400), which led to slight drop of ASPs. Devices such as the iPhone or Samsung Galaxy S-series in LATAM have always been more expensive than the same model in the US. Differences in price can range between 25% to 110% higher, depending on the country. At the same time, the LATAM average consumer purchasing power is notably lower than Europe or US.  A smartphone is a significant investment for the LATAM consumer, inducing them to hang on to the device longer, resulting in slower rate of replacement.”

Commenting on vendor performances, Parv Sharma, Research Analyst, noted, “Samsung has been the absolute leader of the LATAM market.  Its success is due to its strong foothold in the region–especially in Brazil and Argentina. Assertive investment in marketing, sales, supply chain and aggressive prices has rewarded Samsung.  The company grew volumes more than 14% YoY. Samsung’s focus on having the best supply chain network, which starts with a well-established local manufacturing and assembly process, has allowed Samsung to launch the Galaxy S8 and Galaxy S9 almost at the same time as the models were launched globally. This competitive edge has helped it to increase its market share, which is more than triple its closest competitor.”

 

Exhibit 1: Percentage LATAM Shipment Volume Share – CY17

Source: Counterpoint Research Market Monitor CY17

Market Summary

  • LATAM smartphone sales increased 5% YoY, reaching 147M units in 2017.
  • 89% of the mobile phones shipped were smartphones. Smartphone penetration increased almost 2% YoY.
  • LTE reached 87%. 25% increase compared to CY16.
  • LATAM is still a highly concentrated market, top 5 brands represented almost 71% of the market, leaving more than 190 brands battled for the remaining 29% of the market.
  • Only two (Motorola and Samsung) out of the top 5 brands had positive YoY growth.
  • LATAM is still a mid-low range market. $100-$199 is the largest segment in volume and value. This segment has grown around 13% YoY.
  • The main feature offered in this segment were >5” screen and between 8mp-13MP camera.
  • Samsung J-series, LG K-series and Motorola G-series have all contributed to the growth of the $100-$199 segment.
  • Ultra-low segment (~$99) grew around 5% YoY. Its growth has been impacted partly by the increased offering of refurbished (certified and non-certified) devices.
  • The mid-high segment ($300-$399) grew more than 6%, mainly driven by older flagship models from Apple and Samsung.
  • The smartphone category ASP decreased by 3% compared to CY16.

   

Exhibit 2: Latin America Price Band Volume Variation 2016 vs 2017

Source: Counterpoint Research Market Monitor CY17

OEM Performance

  • Motorola gained 380 basis points of share YoY. It was the brand with the biggest YoY growth in LATAM. The launch of the C series with a sell-in price below $100 and its effort to improve its relationship with America Movil has enabled it to add a few models to the operator’s portfolio. This has boosted its performance and it has become second in volume share within the region.
  • Samsung grew 320 basis points of share YoY. It was the brand with the biggest growth in terms of volume. It has been the absolute leader, in both volume and value, in the region.
  • 9 out of 10 top selling smartphones models were from Samsung J series.
  • Many Apple users are postponing the replacement of their device, resulting in a decline of 92 basis points of share.
  • LG lost 91 basis points of share. Despite its aggressive pricing on the K series, it could not fight against Samsung and Motorola aggressive marketing strategies.
  • Huawei decreased 70 points. It lost its momentum as it focused on promoting higher- end models.
  • Lanix led the Local Kings (Brands) space. It successfully added a wide portfolio of very low-end smartphones for the megacarrier America Movil.

Please feel free to contact us at press(at)counterpointresearch.com for further questions regarding our in-depth latest research, insights or press enquiries.

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