India's Smartphone Market Faces Biggest Slump in Years Amid Supply Squeeze, Price Hikes

• India's smartphone market is projected to plunge 12-15% in 2026, marking its sharpest annual decline in years.
• The downturn is driven by a global supply crunch, volatile rupee, surging component costs, and chip shortages.
• Android smartphones are expected to bear the brunt, while Apple's iPhones may see modest growth.
• Average selling prices (ASPs) are set to rise, with the sub-$200 segment feeling the sharpest pain.
• Brands like Samsung, Oppo, Vivo, Realme, and Xiaomi have been steadily raising prices since November, with more hikes expected.