Canalys, stating that Xiaomi mobile phones are growing rapidly in Latin America, and in the third quarter of 2021, they have become the third mobile phone brand in the region by shipments, with a market share of 11%. Xiaomi is currently the number one smartphone manufacturer in Peru and second in Colombia. Its market share in the third quarter of 2021 reached 31% and 27%, respectively.
As early as 2017, Xiaomi has entered the markets of Colombia, Chile, and Mexico. At that time, the three markets sold an average of 290,000 units per quarter. Over time, Xiaomi’s strategy in Latin America has undergone tremendous changes starting in 2019, with the addition of two markets in Peru and Brazil. In 2019, Xiaomi has achieved year-on-year growth of 200% in Colombia and 390% in Mexico.
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Canalys said that in 2019, carrier channels accounted for about 64% of shipments in Latin America. Xiaomi began to focus on carrier channels and integrate channel resources at that time. In addition, the sales focus of Xiaomi mobile phones has further expanded from the $100-299 price range, with models under $100 and $400 and above. In the end, Xiaomi’s shipments in Latin America increased by nearly 200% year-on-year in 19 years.
In mid-2020, Xiaomi appointed a new director to lead the business in the region. Xiaomi signed a new alliance agreement with America Movil, the largest local operator, to help Xiaomi’s shipments in Colombia through carrier channels increase by 6500% year-on-year, Mexican market shipments increased by 244% year on year, and shipments in Chile volume increased by 1610%. In addition, the retail channel business has also been strengthened online and offline.
