According to the latest research from Canalys, the Latin American smartphone market will grow by 15% in 2024, with shipments hitting a record high of 137 million units. The growth was mainly driven by the recovery of device demand, with replacement cycles and aggressive promotional strategies by manufacturers also playing an important role. Samsung still topped the market with a 12% increase in shipments to 42.9 million units. Motorola maintained its second position with 22.8 million units shipped, despite a 4% year-on-year decline. Meanwhile, Xiaomi followed closely behind with a 20% year-on-year increase in shipments to 22.7 million units, further narrowing the gap between the two sides and Xiaomi expected to surpass Motorola in the region. Transsion consolidated its fourth position in the Latin American market with a growth rate of 40%, with shipments reaching 12.8 million units. Honor, on the other hand, entered the top five for the first time with an astonishing 79% year-on-year growth, with shipments reaching 8 million units, mainly driven by its rapid expansion in the Central American market, with a year-on-year growth of more than 200% in the region.