Smartphone Sales Plummet: Iran-Israel Tensions Hit Retail Footfall, Prices Soar

• Smartphone demand weakens significantly across India due to escalating Iran-Israel conflict, impacting retail footfall and sales.
• Consumers prioritize essential household items like induction stoves over discretionary smartphone purchases amid global uncertainty and rising costs.
• Q1 smartphone shipments estimated to drop sharply to 27-28 million units from 32 million last year; annual shipments projected to decline 13-15% in 2026.
• Rising memory component costs, weakening currency, and increased air freight expenses are pushing smartphone prices up by 15-20%.
• Retailers report a 28% decline in footfall, delayed purchase decisions, and anticipate a challenging April-June period.