Global smartphone market hits 13-year Q2 low as memory crunch lifts prices; India cushioned
Shipments fell 3.1% YoY to a 13-year Q2 low as LPDDR memory prices roughly doubled from Q4 2025, pushing wholesale prices up 14% in Q1. Samsung (24% share) and Apple (20% share, shipments +3%) gained ground while budget brands strained. India flagged as a key market seeing fewer price hikes, softening the consumer blow.
What happened
Global smartphone shipments hit a 13-year Q2 low amid a memory chip crunch raising prices. Samsung and Apple gain share; budget brands strain. India named as a
Key facts
- market fell 3.1% YoY
- Apple shipments up 3%
- Apple 20% share
- Samsung 24% share
- LPDDR memory prices ~2x Q4 2025
- wholesale prices up 14% Q1
- shipments to fall ~14% in 2026
Why this matters
The 13-year Q2 low and squeezed budget segment signal distressed acquisition targets among strained low-end brands, with India-exposed assets carrying a premium for their pricing resilience.
What to watch
- LPDDR/DRAM spot and contract price trajectory into H1 2026
- Budget-brand shipment guidance and any segment exits
- India CPI/currency moves that could break the muted-hike thesis
- Apple/Samsung Q1-Q2 2026 share and ASP prints
- Carrier and retailer subsidy/financing shifts
- Shift retail floor space and promo budget toward premium Samsung/Apple SKUs where margin and availability are stable
- Lock forward memory-linked pricing terms with suppliers to hedge continued LPDDR volatility
- Prioritize India-market allocation and financing/EMI offers to capture the cushioned demand pocket
- Prepare trade-in and installment programs to counteract lengthening replacement cycles on price-sensitive tiers