Memory Costs Collapse India Budget Smartphone Segment in June Quarter

A four-fold spike in component prices since September 2025 erased nearly half the sub-Rs 15,000 market and dragged total shipments down 10 percent.

India smartphone shipments fell 10 percent year on year in the June quarter, marking the steepest quarterly contraction since the first three months of 2023. This decline is not a demand anomaly or a seasonal adjustment but a direct output of bill of materials inflation that began nine months ago and has now fully propagated through the supply chain to the retail shelf. The hardware market tracks component costs with a lag, and the ledger has finally balanced against the budget segment [1].

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