India's Q2 2026 smartphone shipments fall 10% steepest since 2020
India's smartphone scene took a hit in Q2 2026, with shipments falling 10% compared to last year, the steepest decline since 2020.
Budget phones under ₹15,000 were especially affected, dropping by a huge 45%, mostly because memory prices shot up and pushed phone costs higher.
Memory costs nearly quadruple in India
Memory costs have nearly quadrupled since September 2025, making even entry-level phones pricier and less accessible.
As a result, more buyers are turning to financing options for ultra-premium models (above ₹45,000), which are actually seeing strong growth: Google's shipments jumped 68%, and Nothing became the fastest-growing brand with a whopping 105% increase.
Meanwhile, Vivo and Samsung still lead the market despite challenges, while MediaTek remains the top chipmaker.