India smartphone shipments fall 10% in Q2, worst June quarter in six years as memory costs bite
Surging memory prices (~4x since Sept 2025) drove ~15% price hikes, crushing the budget segment—sub-₹15,000 shipments plunged 45%. vivo led with 18% share, Samsung grew 2%, Apple slipped 3%, Nothing surged 105%. Financing now covers over half of all sales. Counterpoint forecasts a further 13% decline in 2026.
India's smartphone shipments fell 10% in Q2, the steepest June-quarter drop in six years, as surging memory costs drove ~15% price hikes. Budget segment plunged 45%; vivo led, Samsung grew, Nothing surged 105%. Financing now covers over half of sales.