Even as phones become more expensive to buy, India’s smartphone shipments haven’t exactly slowed down, even though phone makers including Samsung, Vivo, Oppo and OnePlus have hiked prices of existing phones, while recent launches such as the new Google Pixel phones factor inflation into launch prices. Latest data from CyberMedia Research (CMR) indicates that while India’s Q2 2026 smartphone shipments have declined year-on-year, there is a positive trajectory in sequential quarters.
In Q2, as many as 34 million smartphones were shipped in India, up from 31 million a quarter earlier. However, this number is lower than the Q2 2025’s 37 million shipments. Menka Kumari, senior analyst, CyberMedia Research points to a very visible divide in the smartphone space.
“The super premium segment’s 72% YoY growth points to financing structures (zero-cost EMI, trade-in offers, and consumer credit) becoming a deciding factor in premium upgrades, not just AI features or camera hardware. Meanwhile, affordable and value-for-money segments remained under pressure as price-sensitive consumers delayed upgrades, resulting in a more polarised market,” she says.
Vivo leads with an 18.1% market share, but only just. A 15% year-on year dip has allowed Samsung to close the gap, with 17.9% share while keeping shipments largely consistent.
CMR is projecting a between 10–12% full-year decline for India’s smartphone market for 2026, with the affordable price points more likely to register weak sales due to a mix of consumer sentiment, and higher phone prices.
{{/usCountry}}CMR is projecting a between 10–12% full-year decline for India’s smartphone market for 2026, with the affordable price points more likely to register weak sales due to a mix of consumer sentiment, and higher phone prices.
{{/usCountry}}Earlier, Research firm Counterpoint’s latest Smartphone Financing Tracker data noted that longer financing terms underline smartphone purchase in the country, with financing tenure averaging 10 months in Q2 2026.
“The role of smartphone financing is no longer just about offering longer EMI tenures; it’s about making monthly ownership more affordable. Consumers today are increasingly looking at how much they need to pay every month rather than focusing solely on the device’s upfront price,” explains Tarun Pathak, research director at Counterpoint.
Tier-II towns see as many as 57.5% of smartphone purchases in Q2 done via EMIs. In Tier-III towns too, EMI penetration remains around 55% across phone purchases. In metros, that share is 41% of smartphone sales.
Apple’s aspirational positioning among phone buyers sees its EMI tenures average at 17.2 months, by far the highest. Samsung (11.4 months), Oppo (9.9 months) and Vivo (9.8 months) follow. The shortest EMI tenures among leading phone makers, is Xiaomi’s 8.5 months.