LatAm List – A recent study by a global market intelligence firm, IDC, reported that during 2018, Mexico registered almost 32 million smartphones– that’s one smartphone for every four Mexican residents.
According to IDC, 23% of smartphones used in Mexico are in the $103-154 price range (MX$2-3K), followed by 17% in the $77-103 range (MX$1.5-2K). Although these lower-cost phones dominate the market, there’s a segment that continues to grow which is the upscale and midmarket smartphones.
In 2016, smartphones in the $309-516 price range (MX$6-10K) represented 5% of the total market. That number has grown in two years to 13%.
In the short term, there won’t be a significant change in these market segments, but the ‘competition’ lies in the $154+ price range (MX$3K+).
Read more on El Financiero.