Smartphone prices rising in India: Buy now or wait?
Smartphone prices in India are climbing, and the reason sits inside the phone: memory. A shortage of DRAM and NAND chips is pushing up costs for every brand, and it is already shaping launch prices, festive discounts and even launch timing. Here is what the latest reports say and how it should change when you buy.
What is driving the price rise
Analysts quoted by The Hindu BusinessLine put numbers on it. Abhilash Kumar of Smart Analytics Global said a 2GB LPDDR5X memory die that cost about $6.8 in January is now around $30, an increase of roughly 341 per cent. He called smartphones the most exposed category.
Counterpoint, cited by Global Insight News, says memory prices have risen almost fourfold since September 2025. In phones under ₹15,000, memory now makes up over 45% of the bill of materials, up from under 20%. Analysts blame AI data-centre demand for tying up supply.
Prices already paid by buyers
- The Vivo V70 (12GB + 256GB) launched around ₹49,999 in February 2026 and now sells for about ₹64,999, nearly 30% more, per the BusinessLine report.
- The newest iPhone Pro launched at ₹1,64,900 against ₹1,34,900 for the iPhone 17 Pro, a 22% rise in launch price, the same report says.
- IDC, cited by Global Insight News, says average smartphone prices were about 15% higher by the end of Q2 2026.
- Lava has announced a hike of up to ₹3,000 from 15 November. See our Lava price hike explainer.
Key facts table
| Item | Figure | Source |
|---|---|---|
| Memory die price, Jan vs now | $6.8 to about $30 | BusinessLine |
| Memory price since Sept 2025 | Almost 4x | Counterpoint via GIN |
| Avg price rise by Q2 2026 | About 15% | IDC via GIN |
| Mobile festive GMV growth 2026 | 6% vs 26% in 2025 | Datum Intelligence |
| India shipments H2 2026 | Down over 15% (forecast) | IDC / Datum |
Fewer deep discounts this Diwali
Datum Intelligence expects mobile sales value growth to slow to 6% this festive season, and phones' share of festive sales to fall to 29.8% from 35.2%. With costs up, BusinessLine notes brands have less room for the deep discounts that normally drive festive buying. Diwali is on 8 November, so the best of the sales are closing; see our best phone deals this Diwali before they end.
Impact on upcoming phones
Global Insight News reports that a tipster cited by GSMArena puts the iQOO 16 India launch around 15 to 17 December, later than hoped, and that one rumour places its price near ₹1 lakh. That is unconfirmed; iQOO has not announced a date or price. For context, last year's iQOO 15 started at ₹72,999 in India. The same report says the Vivo X500 series is tipped for 25 November, also unconfirmed. Read more in our iQOO 16 India launch guide and the iQOO 15 page.
The report is clear on one point: no brand has said memory costs delayed a specific launch. That is a plausible theory, not a fact.
Should you buy now or wait?
If you need a phone, buy during the current festive offers. IDC says the shortage is likely to extend into 2027, so waiting for prices to fall looks risky. Budget buyers are hit hardest; a 5G phone averaged $341 versus $109 for a 4G phone in Q2 2026, per the same report.
If you can wait, compare actual sale prices against list prices, and check our best phones under ₹30,000 guide. Expect new launches to come in pricier than their predecessors.
FAQ
Why are smartphone prices rising in India? Memory chip costs have jumped because AI data centres are absorbing DRAM and NAND supply, raising manufacturing costs for phone makers.
Will phone prices fall after Diwali? Unlikely. IDC says the memory shortage is likely to last into 2027, and Lava has already announced a hike from 15 November.
Is the iQOO 16 coming to India this month? Not confirmed. A tipster cited by GSMArena points to 15 to 17 December, and iQOO has announced no date.
Which phones are most affected? Budget phones, because memory is a larger share of their cost, according to Counterpoint figures reported by Global Insight News.
