Smartphone shipments in Latin America fell 2.5% year on year in the second quarter of 2022, following a 2.5% drop in the first quarter, making it the first two consecutive declines in the region since the beginning of the pandemic in Q1 and Q2 2020.
Samsung held its dominant position in the smartphone market in Latin America with 36% market share, a slight decline from previous year's quarter of 38%. Lenovo also saw a marginal 1% decline in market share, with 6.9 million units shipped, a slow down from last years 7.4 million shipments.
Xiaomi continued to gain more leverage in Latin America increasing its market share by 1%, from the 17% in Q2 2021, shipping a total of 5.3 million units in Q2 2022
Canalys analyst Leyva-Cortes added that, “Xiaomi’s growth in Brazil and Argentina this quarter helped it to maintain momentum in the region and close the gap on the second largest vendor, Lenovo. Both Lenovo and Samsung are oversupplying as much as they can to stop Xiaomi from establishing itself in Argentina and Brazil, while they all (including Xiaomi) are oversupplying in Mexico and Colombia to protect their shares in these key markets from growing competition.”