Memory chip shortage and price rises cut India smartphone sales
Business
India's smartphone sales are set for their sharpest drop in 10 years, mostly thanks to a memory chip shortage that's pushed up prices.
Sales are projected to decline by 25% in the July-September quarter, with about 36 million phones expected to sell in the July-September quarter, way down from last year's 48 million.
This slowdown could put a damper on the usual festive-season shopping buzz.
Under-₹15,000 phones nearly 40% pricier
If you're looking for a phone under ₹15,000, options are shrinking fast as brands like Vivo, OPPO, Realme, and Xiaomi have become almost 40% more expensive, and more in some cases.
Many people are now waiting longer to buy or choosing refurbished models instead.
Retailers who count on festive sales might need to switch things up just to stay in business.