ICEA: India smartphone volumes to dip 5-7% in FY27, value to rise 8-10% on chip-driven price hikes
Industry body flags AI-led memory shortages pushing entry prices to Rs 10,000-15,000, squeezing 500M feature-phone users still off smartphones. ICEA pitches financing rails and RBI's default-disable framework as unlock for first-time buyers; ecosystem now Rs 6 lakh crore with $70B production.
ICEA forecasts India smartphone volumes to dip 5-7% in FY27 but value to grow 8-10% on higher prices driven by AI-led memory chip shortages; entry-level financing and RBI's default-disable framework seen as critical for first-time users.