India smartphone market kicks off 2026 by losing $500 million, despite price hikes
Mint·1h ago·Fear
What Happened
India's smartphone market declined to $7.8 billion in the first quarter of 2026, down $500 million year-over-year, marking the slowest start in five years. Unit sales fell 12% to 28 million phones. Price increases in February-March partially offset losses. Geopolitical tensions, rising commodity costs, and elevated memory chip prices dampened consumer demand. Analysts report buyers are deferring purchases and considering refurbished alternatives as installment costs rise.
Key Entities
India smartphone marketIDC IndiaCounterpoint IndiaNavkendar SinghTarun Pathak$7.8 billion28 million unitsMemory chips