India’s smartphone shipments declined 3% YoY in Q1 2026, marking their weakest quarter in the last six years, according to Counterpoint Research’s Monthly India Smartphone Tracker. This was driven by a mix of supply-side cost pressures, OEM-led price hikes and weak consumer demand, which weighed on retail conversions across channels despite higher launch activity. Nearly one-third of model launches were advanced to Q1 to primarily offset rising component costs, as OEMs aimed to mitigate further BOM (Bill of Materials) inflation, particularly due to memory prices and currency fluctuations.

Commenting on the market dynamics, Senior Analyst Prachir Singh said, “The market is facing a clear affordability squeeze, driven by sharp memory-led cost inflation and currency pressures that have forced OEMs to raise prices across key models. With average hikes exceeding INR 1,500, the sub-INR 15,000 segment has been hit the hardest, given its high price sensitivity. Rising energy costs amid ongoing geopolitical tensions in the Middle East are further straining household budgets, pushing consumers to prioritize essentials over discretionary purchases like smartphones. As a result, upgrade cycles are stretching, and a meaningful recovery in the mass segment is likely to remain gradual.”

India Smartphone Market Volume Share by Brand, Q1 2026

Source: Counterpoint Research Monthly India Smartphone Tracker
Notes: Figures not exact due to rounding

Brand dynamics

vivo (excluding iQOO) led India’s smartphone market in Q1 2026 with a 21% share, driven by an expanded product portfolio with a higher number of launches, strong traction in the mid-premium segment led by the latest V series, and well-executed channel discipline.

Samsung secured the second position, supported by strong traction in its mass-market portfolio, driven by attractive offers on key A-series models (A07, A36 and A56), alongside a positive early response to the Galaxy S26 series, which saw record pre-bookings led by the Ultra variant. The quarter also reflected a phased flagship rollout and continued portfolio optimization across price segments. Samsung recorded its highest shipment contribution from the INR 15,000-INR 20,000 segment during the quarter, supported by a well-balanced portfolio across tiers.

OPPO (excluding OnePlus) retained its third position in Q1 2026 with a 14% share. It registered 8% YoY growth to become the fastest-growing brand among the top five. Growth was largely driven by strong performance in the budget segment, led by the A and K series, while its mid-premium Reno series also witnessed healthy market traction. An expanded portfolio during the quarter further supported OPPO’s growth momentum.

Xiaomi (including POCO) ranked fourth in Q1 2026, with its INR 10,000-INR 20,000 segment registering double-digit YoY growth, supported by improved channel execution (dual-channel approach) and a sharper portfolio focus on hero models, enabling better returns and retail traction.

realme saw strong traction in the INR 10,000-INR 20,000 segment in online channels, ranking among the top two brands. Models like the P3 lite and Narzo 80 lite have been attracting strong demand.

Apple saw its shipment share reaching 9% in Q1 2026, driven by sustained strong momentum of the iPhone 17 series, supported by aggressive offers such as long-term EMI schemes and exchange offers. Apple is better positioned to navigate memory price pressures, supported by its premium portfolio and efficient supply chain management.

Commenting on the market outlook, Research Director Tarun Pathak said, “India’s smartphone market is expected to remain under pressure in the near term, with Q2 2026 likely to see a double-digit decline, as elevated memory prices and weak entry-level demand continue to weigh on overall volumes. For the full year, the market is projected to decline by 10% YoY, as sustained component cost inflation, particularly in memory, which has already increased 4x over the past three quarters, continues to impact affordability and lengthen replacement cycles. In this environment, brands are expected to stay disciplined, focusing on premium-led growth, tighter portfolio execution and channel efficiency. While the premium segment should remain relatively resilient, ongoing weakness in the mass segment is likely to keep the recovery gradual and uneven.”

Other key trends

• Nothing (including CMF) maintained its strong growth momentum, emerging as the fastest-growing brand in Q1 2026 with 47% YoY growth. Nothing has been the fastest-growing brand in eight out of the last nine quarters. Its Q1 performance was driven by accelerated offline expansion and the launch of its first exclusive retail store in India, enhancing brand visibility and accessibility. Besides, the newly launched Phone (4a) series witnessed robust early traction, driven by its distinctive design language and increasing resonance with younger, design-conscious consumers.
• Google was the fastest-growing brand in the premium segment (>INR 45,000), growing by 39% YoY during the quarter, driven by its focus on AI-led features. Initiatives such as the Pixel Upgrade Program have improved accessibility, while sponsorship of big sports events such as the ICC World Cup and IPL has improved visibility.
• OnePlus emerged as the leading brand in the affordable premium segment (INR 30,000-INR 45,000) on Amazon, with its Nord series continuing to see steady consumer traction. We believe the brand has momentum with the new Nord 6 series and will grow sequentially in a tough Q2.
• MediaTek continued to lead India’s smartphone chipset market with a 51% shipment share. Meanwhile, Qualcomm maintained a strong position in the premium smartphone segment (>INR 30,000), accounting for over 50% of Android smartphone shipments in this price band.
• Over 80 smartphone models witnessed an average price hike of 15% in Q1, with a further 15%-20% rise expected in Q2, driven by sustained cost pressures, particularly in memory, where prices are projected to increase by 80%-85% sequentially.

Note: Preliminary estimates; subject to revision.

About Counterpoint Research

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.

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