India's smartphone market sees double digit decline, Nothing fastest growing brand
India's smartphone market declined 10 per cent in Q2 2026 as rising memory prices hit demand, according to a fresh report. Despite the slowdown, Nothing emerged as the fastest-growing smartphone brand in the country.
The Indian smartphone market just passed its second quarter, and it appears pretty rough. Shipments fell 10 per cent year-on-year between April and June 2026, the steepest drop for a June quarter in six years, according to a new report. And the reason is familiar – the record-high memory prices have pushed up smartphone costs across almost every segment, weakening demand and pushing consumers to hold on to their existing phones for longer. However, against this backdrop, one brand stood out clearly.
Counterpoint Research revealed that Nothing recorded 105 per cent year-on-year growth in Q2 2026, making it India's fastest-growing smartphone brand for the ninth time in the last ten consecutive quarters.
According to the London-based brand, the growth was driven by strong demand for the Phone 4a series and a boost in brand visibility from Nothing's title sponsorship of Royal Challengers Bengaluru during the Indian Premier League. Akis Evangelidis, Co-founder and India President of Nothing, said in a statement to India Today Tech: "The exceptional response to the Phone 4a Series, followed by the successful launch of Phone 4b, which became the highest-selling smartphone on Flipkart in the Rs 30,000-plus segment during its launch week, proves that our focus on design and innovation continues to resonate deeply."
How the rest of the market fared
Vivo retained the top spot in India with an 18 per cent market share, though its budget Y and T series faced pressure from multiple price hikes. Samsung came in second and was the only brand among the top five to register growth, posting a 2 per cent year-on-year increase. The South Korean company benefited from healthy demand for its Galaxy A and Galaxy S series and aggressive summer sale offers. Oppo held third place with a 14 per cent share, driven by its A6 and K14 series in the above-Rs 20,000 segment.
Xiaomi, including Poco, ranked fourth with a 13 per cent share, while Realme rounded out the top five. Both brands saw shipments decline as price hikes across their entry and mid-range portfolios hurt demand, particularly in the sub-Rs. 20,000 segment.
Apple's shipments fell 3 per cent year-on-year, leaving it with a 7 per cent share. Counterpoint noted that demand for the iPhone 17 series remained strong, but supply constraints and inventory shortages limited how many units actually reached consumers. Google, on the other hand, posted 68 per cent year-on-year growth in the ultra-premium segment above Rs 45,000, the highest in that category.
What comes next
The outlook for the rest of the year isn't particularly encouraging. Counterpoint Research Director Tarun Pathak said, “We expect India’s smartphone market to remain under pressure through the rest of the year, as elevated memory and component costs continue to keep device prices high. Smartphone memory prices have increased nearly 4x since September 2025 and are expected to rise further, potentially reaching 5x in the coming months. As a result, we expect the market to decline by 13% YoY for the full year.”
The mass market segment, priced below Rs 15,000, was the hardest hit in Q2, with shipments falling 45 per cent year-on-year, and it is likely to remain under pressure.
The Indian smartphone market just passed its second quarter, and it appears pretty rough. Shipments fell 10 per cent year-on-year between April and June 2026, the steepest drop for a June quarter in six years, according to a new report. And the reason is familiar – the record-high memory prices have pushed up smartphone costs across almost every segment, weakening demand and pushing consumers to hold on to their existing phones for longer. However, against this backdrop, one brand stood out clearly.
Counterpoint Research revealed that Nothing recorded 105 per cent year-on-year growth in Q2 2026, making it India's fastest-growing smartphone brand for the ninth time in the last ten consecutive quarters.
According to the London-based brand, the growth was driven by strong demand for the Phone 4a series and a boost in brand visibility from Nothing's title sponsorship of Royal Challengers Bengaluru during the Indian Premier League. Akis Evangelidis, Co-founder and India President of Nothing, said in a statement to India Today Tech: "The exceptional response to the Phone 4a Series, followed by the successful launch of Phone 4b, which became the highest-selling smartphone on Flipkart in the Rs 30,000-plus segment during its launch week, proves that our focus on design and innovation continues to resonate deeply."
How the rest of the market fared
Vivo retained the top spot in India with an 18 per cent market share, though its budget Y and T series faced pressure from multiple price hikes. Samsung came in second and was the only brand among the top five to register growth, posting a 2 per cent year-on-year increase. The South Korean company benefited from healthy demand for its Galaxy A and Galaxy S series and aggressive summer sale offers. Oppo held third place with a 14 per cent share, driven by its A6 and K14 series in the above-Rs 20,000 segment.
Xiaomi, including Poco, ranked fourth with a 13 per cent share, while Realme rounded out the top five. Both brands saw shipments decline as price hikes across their entry and mid-range portfolios hurt demand, particularly in the sub-Rs. 20,000 segment.
Apple's shipments fell 3 per cent year-on-year, leaving it with a 7 per cent share. Counterpoint noted that demand for the iPhone 17 series remained strong, but supply constraints and inventory shortages limited how many units actually reached consumers. Google, on the other hand, posted 68 per cent year-on-year growth in the ultra-premium segment above Rs 45,000, the highest in that category.
What comes next
The outlook for the rest of the year isn't particularly encouraging. Counterpoint Research Director Tarun Pathak said, “We expect India’s smartphone market to remain under pressure through the rest of the year, as elevated memory and component costs continue to keep device prices high. Smartphone memory prices have increased nearly 4x since September 2025 and are expected to rise further, potentially reaching 5x in the coming months. As a result, we expect the market to decline by 13% YoY for the full year.”
The mass market segment, priced below Rs 15,000, was the hardest hit in Q2, with shipments falling 45 per cent year-on-year, and it is likely to remain under pressure.
The Indian smartphone market just passed its second quarter, and it appears pretty rough. Shipments fell 10 per cent year-on-year between April and June 2026, the steepest drop for a June quarter in six years, according to a new report. And the reason is familiar – the record-high memory prices have pushed up smartphone costs across almost every segment, weakening demand and pushing consumers to hold on to their existing phones for longer. However, against this backdrop, one brand stood out clearly.
Counterpoint Research revealed that Nothing recorded 105 per cent year-on-year growth in Q2 2026, making it India's fastest-growing smartphone brand for the ninth time in the last ten consecutive quarters.
According to the London-based brand, the growth was driven by strong demand for the Phone 4a series and a boost in brand visibility from Nothing's title sponsorship of Royal Challengers Bengaluru during the Indian Premier League. Akis Evangelidis, Co-founder and India President of Nothing, said in a statement to India Today Tech: "The exceptional response to the Phone 4a Series, followed by the successful launch of Phone 4b, which became the highest-selling smartphone on Flipkart in the Rs 30,000-plus segment during its launch week, proves that our focus on design and innovation continues to resonate deeply."
How the rest of the market fared
Vivo retained the top spot in India with an 18 per cent market share, though its budget Y and T series faced pressure from multiple price hikes. Samsung came in second and was the only brand among the top five to register growth, posting a 2 per cent year-on-year increase. The South Korean company benefited from healthy demand for its Galaxy A and Galaxy S series and aggressive summer sale offers. Oppo held third place with a 14 per cent share, driven by its A6 and K14 series in the above-Rs 20,000 segment.
Xiaomi, including Poco, ranked fourth with a 13 per cent share, while Realme rounded out the top five. Both brands saw shipments decline as price hikes across their entry and mid-range portfolios hurt demand, particularly in the sub-Rs. 20,000 segment.
Apple's shipments fell 3 per cent year-on-year, leaving it with a 7 per cent share. Counterpoint noted that demand for the iPhone 17 series remained strong, but supply constraints and inventory shortages limited how many units actually reached consumers. Google, on the other hand, posted 68 per cent year-on-year growth in the ultra-premium segment above Rs 45,000, the highest in that category.
What comes next
The outlook for the rest of the year isn't particularly encouraging. Counterpoint Research Director Tarun Pathak said, “We expect India’s smartphone market to remain under pressure through the rest of the year, as elevated memory and component costs continue to keep device prices high. Smartphone memory prices have increased nearly 4x since September 2025 and are expected to rise further, potentially reaching 5x in the coming months. As a result, we expect the market to decline by 13% YoY for the full year.”
The mass market segment, priced below Rs 15,000, was the hardest hit in Q2, with shipments falling 45 per cent year-on-year, and it is likely to remain under pressure.
