The sales of smartphones in Latin America are expected to jump dramatically the next five years.

Latin America’s smartphone market will expand from 1.8 million unit sales last year to 9.9 million unit sales in 2012, Pyramid Research predicts. That represents a compounded average growth rate of 33 percent and will be six times faster than the overall device market growth.

“The wider availability and improved affordability of smartphones, combined with renewed interest from mobile operators, to fuel rapid growth in smartphone sales, representing one of the fastest-growing segments of the handset market,” Pyramid Research analyst Omar Salvador says in a new report.”*

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