Despite a shrinking smartphone market across Latin America, Apple's iPhone has managed to grow its shipments by 5% in Q2 2026. According to Counterpoint Research, the region saw its largest decline in three years, with the market shrinking by 10% compared to the same period last year. Samsung led with a 6% increase, while other brands like Xiaomi suffered steep drops of 27% year over year. Rising costs from the global chip shortage contributed to the overall decline, particularly affecting entry-level and mid-tier devices that make up three-quarters of all smartphones sold in the region. Apple's growth in the premium segment is attributed to the company absorbing price increases and maintaining steady demand for the iPhone 17 Pro Max and older models. The iPhone 17e, launched mid-March, also benefited the quarter. With no new iPhone launches during Apple's fiscal Q2, the upcoming iPhone 18 Pro range is expected to boost performance later this year. However, researchers predict Latin America smartphone sales won't recover until at least 2028.

In Europe, Apple's market share continued to rise during the same period, showing stronger performance compared to Latin America where it remains behind Samsung, Xiaomi, and Motorola in overall market share. Only Samsung outperformed Apple with a 6% shipment increase, while all other manufacturers saw declines.

The premium market segment has proven resilient, with Apple successfully navigating price pressures that have severely impacted budget and mid-range device sales across the region.