India smartphone market shrinks 10% as 'RAM tax' guts the budget tier
A 4x jump in memory prices since Sept 2025 pushed average phone prices up 15% and collapsed the sub-Rs15,000 tier by 45% YoY, driving Q2 2026 shipments down 10%. Vivo (17.8%) and Samsung (17.6%) lead as Nothing (+105%) and Pixel (+68%) surge on EMI-fuelled premium demand; full-year decline projected at 13%.
India smartphone shipments fell 10% YoY in Q2 2026 as a memory 'RAM tax' spiked prices; budget tier collapsed 45%. Vivo and Samsung lead, Nothing and Pixel surge on EMI-driven premium demand, with full-year decline projected at 13%.