India’s smartphone shipments plunged in the third quarter of 2026, according to Counterpoint Research. Last week, Omdia reported a 26% decline in shipments to their lowest level since 2016. Counterpoint’s figures are slightly less severe but tell a similar story, with shipments falling 20% year-on-year between July and September to their lowest level in a decade. Record-high memory prices have pushed up smartphone costs, while weak demand has prompted brands to reduce inventory in stores, even ahead of the festive season.

The budget segment suffered the biggest decline. Shipments of smartphones priced below INR 20,000 ($210) dropped by 47% as rising costs pushed devices into higher price brackets. Counterpoint noted that the pressure was particularly severe in the segment below INR 15,000 ($158), with consumers keeping their existing phones for longer and delaying upgrades.

Samsung reclaimed the top position after nine quarters, securing a 17% market share thanks to its Galaxy A series and relatively moderate price increases. vivo, excluding iQOO, followed closely with 16%, while Oppo ranked third with 12%, supported by triple-digit growth in the segment above INR 20,000 ($210). Xiaomi, including Poco, also captured 12% to take fourth place and remained the leading brand in the INR 10,001-20,000 ($105-$210) price segment. Meanwhile, the iPhone 18 Pro series recorded a strong launch, with initial sales nearly 20% higher than those of the iPhone 17 Pro lineup.

Ai+ Smartphone emerged as the fastest-growing brand, recording a 306% increase in shipments. Indian brands collectively increased their market share from 2% to 7%, while itel shipments grew by 88%. Google also recorded growth of more than 50%, helped by its Pixel 11 devices. In the chipset market, MediaTek maintained its leading position with a 45% share, while Unisoc regained momentum as manufacturers focused on improving profitability in lower-priced smartphone segments.

Looking ahead, Counterpoint expects India’s smartphone market to contract by approximately 13% in 2026, with further price increases likely after the festive season sales. Manufacturers are already responding by introducing more 4G smartphones and lower-specification models for budget-conscious consumers. The research firm also expects 2027 to remain challenging for the industry, suggesting that consumers hoping for smartphone prices to fall soon may have to wait longer.