India's smartphone market shipments dropped 3% in Q1 2026 due to rising costs and weak demand.

India's smartphone market experienced its weakest quarter in six years during the first quarter of 2026, with shipments dropping 3% year-on-year. This decline was driven by rising component costs and weak consumer demand, leading manufacturers to raise prices across the board. As a result, the sub-15,000 price segment was hit hardest, and analysts forecast a further double-digit drop in the second quarter.