Indian consumers are facing a sharp rise in smartphone prices, with more than 80 models already seeing average price increases exceeding 15 per cent, and analysts warning the worst may not be over.
Data from the All India Mobile Retail Association (AIMRA) and Counterpoint Research point to broad-based price increases across leading brands since December 2025. Samsung has raised prices by up to 33 per cent, while Realme devices have become costlier by as much as 53 per cent cumulatively. Xiaomi, Oppo, and Vivo have recorded increases of up to 42 per cent, 41 per cent, and 40 per cent respectively. Apple has taken an indirect route, withdrawing discounts of Rs 5,000 to 6,000 on the iPhone 15, 16, and 17 series rather than announcing formal price hikes.
The primary driver is memory costs. Global dynamic random-access memory (DRAM) prices surged over 50 per cent year-on-year in the first quarter of 2026, while NAND flash prices rose 90 per cent in the same period, with memory now accounting for 30 to 40 per cent of a phone’s bill of materials. Counterpoint’s Tarun Pathak warned that memory costs could rise a further 80 to 85 per cent in the second quarter, potentially pushing new launch prices 30 to 40 per cent above earlier estimates. Compounding this are semiconductor supply tightness driven by artificial intelligence chip demand, freight disruptions linked to the West Asia conflict, and rupee depreciation.
The impact on demand is already visible. India’s smartphone shipments fell 12 per cent year-on-year to 280 million units in the first quarter of 2026, the market’s worst opening quarter in five years, with sales value also declining simultaneously for the first time since 2020. Dealers have reported a nearly 30 per cent drop in March volumes, with buyers deferring purchases or shifting towards refurbished devices.
