Samsung Completes 51 Quarters of Leadership in The Latin America Smartphone Market in Q1 2024
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As per the latest research from Wireless Smartphone Strategies-TechInsights, Latin America smartphone market volumes grew in strong double digits at 21% YoY in Q1 2024. This is the highest quarterly annual growth rate of the region since Q3 2021. Also, Q1 2024 marked the highest first quarter shipment volume in the region after Q1 2015. Aggressive product launch and channel pull by Chinese vendors, as well as the improved economic situations boosted by domestic demands and exports jointly contributed to the growth. The economic outlook of the region looks optimistic as well. The Brazil economy registered the strongest YoY and QoQ growth rates since Q2 2023. Also, the monetary policies were in favor which created a positive outlook. The economy in Mexico improved too, beating expectations in Q1 2024, largely driven by service sector and private consumption.
