That's an average penetration rate of 122 per cent per country.
New stats from the GSMA confirm Latin America as one of the world's fastest growing and most mobile-obsessed regions.
Its Latin America Mobile Observatory 2011 report states that LatAm already has more than 630 million connections.
It reckons fast mobile broadband will propel the next phase of growth with HSPA and LTE connections reaching more than 305 million by 2015.
Sebastian Cabello, director of Latin America, GSMA said: "As well as being one of the largest, Latin America is also one of the world's fastest-growing mobile markets.
"We have experienced 13 per cent growth per year for the past four years, driven by increasing accessibility, flexibility and affordability of mobile services, and boosted by the increasing affluence of the region and the relative shortage of the fixed line infrastructure."
Of course, the GSMA is keen to play up the macroeconomic benefits of mobile.
It says the market in Latin America currently generates an estimated $175 billion, or 3.6 per cent of total GDP, with operators alone contributing $82 billion in 2010 (1.7 per cent of the total output of the region).
Full report here.