Chile Smartphones Market Report and Forecast 2024-2032

Chile Smartphones Market Outlook

The Chile smartphones market size is projected to grow at a CAGR of 4.30% between 2024 and 2032.

Key Takeaways

• Chile smartphones market growth is driven by factors such as increased disposable income, higher smartphone affordability, and a growing market for 5G smartphones.

• The market is dominated by Samsung Electronics, Apple Inc., and Chinese electronics giant Xiaomi, which has emerged as the third-largest smartphone vendor in Chile, outpacing Huawei.

• As per industry reports, the country was home to 16.55 million social media users in January 2023, representing 84.4% of the total population. This has positively impacted the market’s growth trajectory.

The strengthening of the Chilean economy has led to increased disposable income and higher affordability for smartphones, resulting in surge in demand. The Ministry of Economy's quarterly report on the Chilean economy for Q1 2023 indicates a 71% YoY increase in smartphone shipments. Also, the number of mobile connections in Chile increased by 1.2 million (+4.4%) between 2022 and 2023, showcasing the rapid Chile smartphones market development.

One of the key drivers of this growth is the growing adoption of 5G smartphones. The Chilean government has made substantial investments in 5G networks, making it highly convenient for users to switch between applications and use smartphones seamlessly. As a result, 1.2 million 5G smartphones were in use in 2022.

Another driver aiding Chile smartphones market growth is the increasing consumer acceptance of budget smartphone models. This trend is evident in the rise of Chinese electronics giant Xiaomi as Chile's third-largest smartphone vendor, outpacing Huawei. The market's inclination towards budget smartphones presents a significant opportunity for manufacturers to cater to this demand.

In addition, the market is also influenced Chile’s free trade agreements with several countries, including the United States, which is the primary destination for mobile phone exports from Chile, accounting for an 83% share of total exports. These agreements provide a conducive environment for smartphone manufacturers to export their products, contributing to the market's growth.

The smartphones market in Chile is also characterised by several trends. For instance, there is a growing demand for foldable smartphones, with Samsung Electronics Co. announcing the fifth generation of its foldable smartphones in July 2023. Additionally, there is a notable trend towards the launch of new smartphones from popular ranges, such as Motorola's Edge range, which includes the Edge 30 Fusion and Edge 30 Neo.

Market Segmentation

Chile Smartphones Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Operating System

• Android

• iOS

• Windows

Market Breakup by Category

• Mass

• Premium

Market Breakup by Distribution Channel

• OEM Stores

• Retailers

• Online

• Others

Competitive Landscape

Market players are focused on launching more 5G-enabled smartphones to cater to the evolving preferences of consumers in Chile.

• Samsung Electronics Co. Ltd.

• Apple Inc.

• Xiaomi Corp.

• Huawei Technologies Co., Ltd.

• BBK Electronics Corp. Ltd. (Oppo)

• Honor Device Co., Ltd.

• Lenovo Group Limited (Motorola Mobility, LLC)

• Others

Key Highlights of the Report