The channel remains open-minded to new brands, initiatives and collaborations. Vendors without capital to invest and a clear channel strategy will quickly find themselves left behind. “However, there are vendors with high growth ambitions who will invest significantly throughout 2023. "Facing uncertainty, vendors will continue prioritizing inventory management and profitability,” added Perez. Since its entry, OPPO has prioritized growing a sturdy base in Mexico but has now expanded its presence into Colombia, Peru and Chile.
OPPO grew the most among the top five vendors, increasing its shipments by 35%. Although purchasing power in Latin America is restricted compared to other developed countries, the region has garnered focus in Apple's growth strategy, especially at a time when the brand is facing a challenging environment in North America and Europe. Xiaomi secured third place despite facing local headwinds in Mexico, Colombia and Peru, countries which counted for over 60% of its shipments last year."Īpple continues to expand its presence in the region and its shipments grew 13% in Q1 2023.
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Motorola had a solid start to the year, mainly driven by the new E and G series product launches, delivering strong performances in Argentina, Brazil and Mexico. Despite declining by 21% in Q1 2023, Samsung remains unchallenged for the top spot. “Samsung has been first placed in every single quarter for over a decade due to a strong positioning developed over time with good channel management which has allowed a broader presence to the brand, given the intensifying competition. "The competitive dynamics between the top three vendors remain as steady as ever, while competition remains fierce outside of the top three,” added Perez. It will be important for vendors to now position themselves well in the market for the anticipated rebound." Although the annual decline in Q1 2023 reflects a continued difficult environment, healthier inventory levels and increases in general consumer spending point toward signs of a rebound in the second half of the year. Some vendors had to continue prioritizing reducing their channel inventory levels, while others reached healthy levels early in the quarter, experiencing growth in Q1. “There was a huge variation in performance between vendors and markets, reflecting a difficult business environment. “It was a challenging start to 2023 for LATAM,” said Miguel Perez, Mexico-based Senior Consultant at Canalys. This is the fifth consecutive quarter of annual declines following a strong 20 which were defined by high inventory levels across the region. Canalys' latest research reveals that shipments to the Latin American smartphone market declined by 10% year-on-year in Q1 2023 to 28 million units.
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