Based on new research from Strategy Analytics, Chile’s smartphone prices jumped 71 percent YoY to an all-time large 2.9 million units in the initial quarter of 2021. Again, Xiaomi has been the star actress, soaring over 1000 percent yearly to catch third place and a list 16% market share. Xiaomi is on a path to catch second place at the close of the year.
Neil Mawston, Executive Director at Strategy Analytics, said,
“Smartphone prices in Chile jumped 71 percent YoY in 1.7 million units during Q1 2020 into a list 2.9 million in Q1 2021. Regardless of Covid and political instability, demand for smartphones jumped because of a buoyant market, strong exports, and a perceived large vaccination rate. As a result, Chile is now the third-largest smartphone marketplace in Latin America, after Brazil and Mexico.
Woody Oh, Director at Strategy Analytics, added,
“We quote Samsung climbed its Chile smartphone prices a healthful 63 percent YoY in 0.8 million in Q1 2020 into your record 1.2 million through Q1 2021. Samsung’s smartphone market share in Chile stays comparatively steady for today, around the 42 percent level.
Samsung has a comprehensive retail presence in Chile, and its mid-range A-series versions are extremely popular. Lenovo-Motorola held next place and climbed its smartphone market share in Chile by 12 percent during Q1 2020 into a list of 17 percent in Q1 2021. The Motorola brand stays popular with Chilean customers who enjoy 4G smartphones at very economical price-points.”
Rajeev Nair, the Senior Analyst at Strategy Analytics, added,
We quote Xiaomi smartphone prices in Chile climbed over 1000 percent from near-zero from Q1 2020 into some list 0.5 million components during Q1 2021. As a result, Xiaomi has jumped from 2 percent to 16 percent smartphone market share in Chile during the last calendar year.
Xiaomi is now Chile’s fastest-growing smartphone manufacturer. Xiaomi’s funding Redmi versions are winning powerful consumer approval. They’ve assisted Xiaomi to catch third place in Chile and maximize its profits in the pullout of Huawei. If present growth trends continue, Xiaomi will overtake Lenovo-Motorola to become Chile’s second smartphone manufacturer before the conclusion of 2021.
Woody Oh, Director at Strategy Analytics, added,
“There is much to play in Chile. OPPO, Vivo, Realme, and other Chinese manufacturers, have ambitious smartphone growth programs for the season ahead. However, Samsung’s dominance and Xiaomi’s soaring increase in Chile are by no means ensured.”
