- Samsung dominated with five models on the list.
- Apple’s iPhone 11 was the third best-selling model in Mexico in Q2 2024.
- 60% of the models in the top 10 list were priced below $150.
- Samsung’s Galaxy A34, Galaxy A54 5G were the only two 5G models on the top 10 list.
Mexico is the second most important smartphone market in Latin America. The country has the second-highest population in the region and hosts an extremely competitive ecosystem. Mexico’s geographical size and lack of import barriers make it an extremely attractive smartphone market.
The top-selling models accounted for 35% of Mexico’s total smartphone market in Q2 2024. The top 10 list almost appears like Samsung’s performance for the quarter as the brand dominated the top-selling chart in Mexico in Q2 2024. Five of the 10 best-selling models were from Samsung. According to Counterpoint’s Market Pulse Report, Samsung’s share in Q2 2024 was slightly more than 30%.
OPPO and Motorola both had two models in the Q2 2024 top-selling list. Motorola, which has always been a strong player in the Mexican market, launched a few new models during the quarter that helped the brand increase its market share. OPPO, a relatively new entrant in the LATAM market, managed to retain its third position in market share with two of its models in the top-selling list.
60% of the models in the top 10 list were priced below $150. This price band accounts for 52% of the overall smartphone market in Mexico. However, premiumization is infiltrating the Mexican market, and the number of models in the >$150 band is increasing in the top-selling list. This trend is accelerating slowly but will surely lead to a higher overall smartphone ASP.
Apple’s four-year-old iPhone 11 has been part of the Mexican bestseller list for a few quarters now. It was the third best-selling model in the Mexican market in Q2 2024. The iPhone 11, which is a 4G model, was the most expensive model on the list. The massive sales of this model reflect the strength of Apple’s branding.
The 4G version of OPPO’s Reno 7 was another model in the bestsellers list priced more than $150. This is quite an achievement for the brand, which arrived in the region just three years ago. OPPO is still building its branding in the Mexican market. The Reno 7 has been in the Mexican top-selling chart since December 2023.
It is noteworthy that only two models in the chart are 5G phones – the Samsung Galaxy A34 and the Samsung Galaxy A54 5G. The latter one is also the most expensive Samsung model in the top-selling list. Meanwhile, Telcel has been pushing its subscriber base to replace their phone with a 5G one. Mexican consumers are still not ready for 5G technology. They would rather get more specs than access the technology.