Carl Pei says memory chips drive global smartphone price increases
Smartphone prices are climbing worldwide, and it all comes down to memory chips getting way pricier.
Carl Pei, CEO of Nothing, shared that memory now makes up over half the cost of a phone's hardware, more than even the processor or display.
With these rising costs, brands everywhere are bumping up their phone prices.
India average smartphone prices up 7.9%
In India, average smartphone prices jumped 7.9% in early 2026, with budget phones under ₹10,000 seeing the biggest hike at 17.6%.
Premium phones above ₹30,000 have seen price jumps of ₹7,000 or more, while mid-range phones have also seen increases.
Pei also mentioned that memory costs for Nothing's Phone (4a) doubled during development and after launch, so don't expect big festive discounts this year as supply issues continue.
If you're planning to buy soon, it might be smart not to wait too long!