ICEA: India smartphone volumes to dip 5-7% in FY27, value to rise 8-10% on chip-driven price hikes
Industry body ICEA forecasts a 5-7% volume decline in FY27 even as market value grows 8-10%, as memory shortages from the AI boom triple entry-level prices to ₹10,000-15,000. With 500M Indians still without smartphones, financing turns critical; RBI's default-disable framework could revive lending and cushion the hit.
ICEA forecasts India smartphone volumes to dip 5-7% in FY27 while value grows 8-10% due to higher prices driven by memory chip shortages from the AI boom. Entry-level prices tripled, making financing critical; RBI's default-disable framework may revive lending.