India's smartphone shipments declined 3% year-on-year in the first quarter of 2026, their weakest quarterly performance since 2020, according to research firm Counterpoint Research. The slump was driven by rising costs, softening consumer demand, and price increases, with more than 80 models seeing average price hikes of 15%. A further 15–20% rise in prices is expected in the second quarter, raising concerns about sustained pressure on one of the world's largest smartphone markets.