India smartphone market splits: premium up 25%, affordable down 46% in weakest quarter in years

Q1 2026 India shipments fell 2-5% as DRAM/NAND price spikes squeezed entry-level demand. Premium tier surged 25% on flagship launches from Apple, Samsung, OnePlus, Xiaomi. Apple hit 9% share with iPhone 16 series driving 53% of its volumes; OnePlus 15/15R delivered 48% of OnePlus sales.

— Source publishedFri, 15 May, 2026, 10:23 IST·First seen Fri, 15 May, 2026, 10:47 IST·Source Hindustan Times · Business

What happened

Xiaomi India · India smartphone market saw weakest quarter in years in Q1 2026, with affordable shipments down 46% and premium up 25%. DRAM/NAND price spikes

Key facts

  • Q1 2026 shipments down 2-5%
  • affordable phones -46%
  • value segment -12%
  • premium +25%
  • Apple share 9%
  • iPhone 16 series 53% of Apple volumes
  • iPhone 17 series 28%
  • OnePlus 15/15R = 48% of OnePlus volumes
  • global shipments -2.9% YoY to 293.8M

Why this matters

The 25%/-46% split signals consolidation pressure in the affordable tier—scout distressed sub-scale OEMs and component-financing assets while premium brands extend their share lead.