India’s smartphone market just had its worst June quarter in six years. Here’s what’s behind it – Crypto News – Crypto News
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India’s smartphone market just had its worst June quarter in six years. Here’s what’s behind it India’s smartphone market just had its worst June quarter in six years. Here’s what’s behind it

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India’s smartphone market just had its worst June quarter in six years. Here’s what’s behind it – Crypto News

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India’s smartphone market had its biggest decline in the June quarter in six years, as per a new report by Counterpoint Research. The report notes that smartphone shipments decline 10% year-on-year (YoY) during the April-June quarter of 2026.

The market research firm attributed the slowdown to rising smartphone prices driven by record-high memory costs, alongside inflationary pressures and weak discretionary spending, which have reduced consumer demand and extended replacement cycles.

Why have smartphone sales declined

According to Counterpoint, smartphone makers raised prices multiple times during the quarter as memory and other component costs continued to rise. This resulted in an average smartphone price increase of around 15% by the end of the June quarter.

The report states that sub- ₹15,000 segment was hit the hardest, with shipments plunging 45% YoY. Counterpoint said many Chinese smartphone brands, which have significant exposure to the entry-level and mid-range segments, saw their market share fall to the lowest level for a second calendar quarter since 2020.

Counterpoint also states that while 5G remains the long-term driver of growth in the segment, 4G will continue to play a crtiical role especially when it comes to serving the value consicous consumer until the component costs stabilize.

Premium smartphones remain resilient

Despite the broader slowdown in smartphone shipments, Counterpoint says that the ultra-premium segment (above ₹45,000) continued to remain relatively resilient. The research firm attributed this to growing adoption of financing schemes such as EMIs that reduce the upfront cost of expensive smartphones.

Research Director Tarun Pathak in a statement said, “We expect India’s smartphone market to remain under pressure through the rest of the year, as elevated memory and component costs continue to keep device prices high. Smartphone memory prices have increased nearly 4x since September 2025 and are expected to rise further, potentially reaching 5x in the coming months. As a result, we expect the market to decline by 13% YoY for the full year.”

Which companies gained the most?

Counterpoint data suggests that vivo (excluding iQOO) retained its position as India’s largest smartphone brand during the quarter with an 18% market share that it says was driven by strong demand for the brand’s premium V70 series.

Samsung remained the second-largest smartphone brand and was the only company among the top five OEMs to register annual shipment growth, rising 2% YoY. Counterpoint attributed the growth to healthy demand for the Galaxy A series and flagship Galaxy S smartphones

Meanwhile, OPPO secured the third position with a 14% market share, followed by Xiaomi (including POCO) at 13%, while realme rounded out the top five. Xiaomi and realme both recorded shipment declines as repeated price hikes affected demand in the sub- ₹20,000 segment.

Apple’s shipments fell 3% YoY, with its market share standing at 7%. Counterpoint said supply constraints and inventory shortages limited iPhone shipments despite healthy demand for the iPhone 17 series.

Among smartphone brands, Nothing was said to be the fastest-growing in India, posting 105% YoY shipment growth. Counterpoint attributed the performance to strong demand for the Phone (4a) series and increased brand visibility through its title sponsorship of Royal Challengers Bengaluru during the IPL this year.

In the ultra-premium segment, Google Pixel emerged as the fastest-growing brand with 68% YoY growth, driven by aggressive marketing, offline expansion and the absence of price hikes.

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