Counterpoint: India smartphone shipments fell 20% in Q3, lowest in a decade

Counterpoint Research reported that India's smartphone shipments fell 20% year on year in July-September 2026, reaching their lowest level in a decade, according to GSMArena. The outlet said record-high memory prices drove up device costs, and with demand soft, brands kept less stock in stores even ahead of the festive season.

GSMArena reported that the cheaper end of the market was hit hardest: shipments of phones under INR 20,000 ($210) fell 47%, with pressure especially strong below INR 15,000 ($158). Counterpoint said rising prices pushed models into higher price bands, while consumers held onto their phones longer and delayed upgrades.

By brand, Samsung reclaimed the top spot after nine quarters with a 17% share, followed by vivo (excluding iQOO) at 16%, Oppo at 12%, and Xiaomi (including Poco) at 12%, as reported. Counterpoint expected India's smartphone market to shrink around 13% in 2026 and said another round of price hikes was likely after the festive season sale.