- Samsung and Apple resilient to quarterly drop amid market concentration.
- Motorola and ZTE suffered the most with double-digit declines.
- HONOR and OPPO perform best among Chinese brands.
Buenos Aires, New Delhi, Hong Kong, Seoul, London, Beijing, San Diego – May 20, 2023
Colombia’s Q1 2023 smartphone shipments fell 9% YoY. It was the worst quarterly volume since Q1 2020, according to the latest report from Counterpoint Research’s Market Monitor service. The country’s quarterly shipments were hurt by weakened demand resulting from rising inflation and political uncertainty. Overall, smartphone shipments are declining in the LATAM region, falling 9% YoY in Q1 2023.
Commenting on the market trend, Principal Analyst Tina Lu said, “The continued concentration in the market shows which brands are better positioned, and the results are not a surprise. Samsung and Apple increased their share in shipping by 50 and 30 basis points, respectively, in Q1 2023. When consumers are in doubt in the future, they will go to recognized brands and OEMs know it. However, HONOR and OPPO, which is trying to increase their presence in Colombia, exploded in the market by more than doubling their shipment YoY.
Share of Colombia Shipments Q1 2023 vs Q1 2022
Source: Counterpoint Research Q1 2023 Market Monitor
Research Analyst Andres Silva said, “In Q1 2023, inventory was carried over from 2022 in the operator channel and weighed down by Xiaomi and Motorola shipment volumes, which decreased by 18% YoY and 65% YoY, respectively. Excess inventory has led to Back-to-School promotions where two devices are bundled for the price of one, a very unusual offer in this channel”.
Q1 2023 Market Summary
- Samsung’s shipment volume grew by 6% YoY in Q1 2023, mainly driven by the launch of the S23 series. The S23 Ultra with 256GB memory is the most prominent featured device in the new series, particularly Claro.
- Apple witnessed a 60% YoY increase in shipment volume in the quarter due to the delayed arrival of the iPhone 14 series in Colombia. The iPhone 11, which is Apple’s best-selling model in Colombia, also helped.
- Xiaomi faced inventory challenges, leading to a 20-basis point drop in its shipment share. However, it remains second to Samsung. Shipments for the Note 12 series, started taking in late March, ahead of the launch in early April.
- OPPO showed an impressive quadrupling of volume YoY in Q1 2023, surpassing Motorola to become the third most important brand in Colombia. Its share jumped to 10% in Q1 2023 from 2% in Q1 2022. This OEM is focusing on growing its brand in the Colombian market.
- Motorola experienced a significant drop in shipment volume, losing more than half of its market share. The brand is facing inventory issues, with the Moto G22 being the only device that has registered strongly in the minds of Colombian consumers.
- HONOR has shown a remarkable hunger for a larger market share in Colombia, achieving 200% YoY growth in shipments. It is now closely competing with Motorola for the fifth position. Its share jumped to 5% in Q1 2023 from 1% in the previous quarter.
- ZTE’s shipment volume, which has been growing since Q2 2022, ended its streak in Q1 2023. Promotions are still focused on the operator and miss a large portion of Colombians who buy in the open channel in despite their presence in Alkosto.
Counterpoint Technology Market Research is a global research company specializing in products in the technology, media and telecom (TMT) industries. It services major technology and financial companies with a mix of monthly reports, customized projects and detailed analyzes of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.
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