India smartphone sales drop 12% and revenues fall $500 million
Business
India's smartphone scene just had its roughest start in half a decade.
In early 2026, sales dropped 12% to 28 million units, and revenues fell by $500 million compared to last year, even after brands bumped up prices.
With living costs rising and global uncertainties, a lot of people are holding off on upgrading their phones.
Top brands raised prices nearly 40%
On April 7, it was reported that top brands had raised prices by nearly 40%, pushing the average phone cost from ₹15,000 in 2022 to ₹26,000 now.
But with essentials taking priority and memory chip prices staying high, this move didn't boost sales as hoped.
Analysts say things could pick up if global markets stabilize, but for now, it's a tough time for both buyers and brands.