India smartphone shipments fall to decadal low as prices squeeze demand

New Delhi: India’s smartphone shipments fell 20% year-on-year in July-September 2026 to their lowest level in a decade, as record-high memory prices pushed up device costs and weakened consumer demand, according to findings of market research firm Counterpoint Research’s monthly India Smartphone Tracker released on Friday.

Shipments of smartphones priced below Rs 20,000 plunged 47% during the quarter as price increases pushed models into higher price bands.

Research analyst Shubham Singh said the squeeze on affordability was weakening the mass-market segment as consumers delayed upgrades and extended replacement cycles. “Consumers became more selective, extended their replacement cycles and deferred upgrades, while OEMs prioritised margin protection, portfolio rationalisation and leaner channel inventory over aggressive volume expansion ahead of Diwali,” Singh said.


Samsung reclaimed the top spot after nine quarters, accounting for 17% of shipments and emerging as the only brand among the top five to record year-on-year growth. Its Galaxy A series drove volumes, while relatively measured price increases and a balanced online and offline strategy helped it outperform the market.

Vivo, excluding iQOO, ranked second with a 16% share, followed by OPPO at 12% and Xiaomi, including POCO, also at 12%. OPPO recorded triple-digit growth in the above- Rs 20,000 segment, while Xiaomi led the Rs 10,001-₹20,000 price band. Ai+ Smartphone was the fastest-growing brand, with shipments rising 306% year-on-year.

Counterpoint expects India’s smartphone market to contract around 13% in 2026, with another round of price increases likely after festive-season sales.

Research director Tarun Pathak said manufacturers were introducing more 4G and lower-specification models to manage costs while maintaining price points. “Growth opportunities will increasingly shift toward the premium and upper-mid segments, while the mass market remains under pressure from affordability constraints and tighter OEM margins,” Pathak said.