Smartphone prices in India jump 16% as memory costs soar

Counterpoint says average smartphone prices in India rose 16% in H1 2026 as AI data centers soak up DRAM and NAND supply. Budget phones under Rs 10,000 saw the steepest hikes at about 32%, with shipments down 65% year-on-year. Memory prices are expected to stay elevated until 2028.

• Average smartphone prices in India rose 16% in H1 2026
• Phones under Rs 10,000 up 32%, shipments down 65% YoY
• OnePlus limited hikes to 8%, shipments up 49% QoQ
• Counterpoint: memory prices unlikely to fall before 2028