I have only seen this thread now. As a Brazilian born and raised the first thing that comes to mind is calling all countries here South American market is hugely over simplifying. It's like calling North American market and putting Mexico, Canada and the US in the same bag, same market, same level of manufacturers. No way. Brazilian market in vastly different from Chile and from Venezuela to cite a few examples. Just like saying US market is hugely different from Mexican market.
Anyways back to Brazil and its eternal struggles. Market is very closed to imports on purpose, high custom taxes, both for individuals and companies. Designing and building Hi-Fi over here is for the brave, as there are several challenges in getting quality parts and reliable suppliers. I know a few more recent like former Exaudi, and currently Sunrise Labs and Audiopax.
There was Gradiente, back in the 80s when the market was closed and local industry was the only way. But when the markets opened in the 90s and China became the factory of the world, Gradiente went broke.
Back to today, customers are few and most are interested in the big international brands we all know. Most of the AV and Hi-Fi products come grey market from Paraguay to save taxes. And since it is still expensive, there are relatively few brands available to choose from.
When I see the availability of Hi-Fi stores, brands and overall parts and suppliers in the US it is mind blowing to us. That is why you see some Brazilians going shopping in the US and bringing stuff back here. Heavy bags in the airplane back from the US are always inspected by customs at the airport and more taxes need to be paid, so no free lunch there too.
Of course there are several other brands for live PA audio and car audio, usually with low price and high SPL, but not much into sound quality.
Other countries like Chile have a much more open market for importing, but then the small population and lack of economies of scale makes things difficult in other ways.
As with the rest of the world, Chi-Fi IEMs and electronics from AliExpress are getting more and more popular here, since they are small and light and usually can be imported without paying taxes.
You see, when regular international post packages get taxed by 60% (sixty, not a typo), and courrier packages (FedEx, UPS, DHL) get taxed even higher at 95% (ninety five!), avoiding taxes is crucial. No Laffer curve for taxes here...