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The smartphone market in Brazil is expected to grow at a CAGR of 43% in the period 2010-14, Pyramid Research senior analyst Omar Salvador told BNamericas.
"At Pyramid we believe that Brazil will become one of the fastest growing markets in the smartphone segment on both a global and regional level," Salvador said.
According to the analyst, smartphone sales in this market will account for approximately 34% of total mobile phone sales by 2014. In 2008, smartphone sales represented only 3% of total mobile device sales while this year, smartphone sales will account for 7%, the analyst added.
The main driver of increasing smartphone penetration in Brazil is the operators' strategy to boost the adoption of these devices, with the goal of increasing data service revenues, he said, adding that manufacturers are also getting increasingly competitive in the segment.
"End-users have shown a lot of interest in smartphones, not only in the corporate segment but in the residential segment. These users are attracted by music applications, social networks, connectivity and instant messaging solutions," Salvador said.