Rising memory costs set to push smartphone prices up again in India

Higher DRAM and NAND prices, plus memory demand from AI data centers, are pressuring smartphone prices in India. Holiday-season sales are expected to fall 12% year over year even as market value grows about 5%. Budget phones are hit hardest.

• India holiday smartphone sales expected to drop 12% year over year
• Total market value is still expected to grow about 5%
• Samsung, Apple, Oppo, Vivo and Nothing have already raised prices
• Phones under Rs 15,000 are most exposed to cost pressure