Samsung leads India smartphone EMI purchases as financed sales climb toward 42% in 2026
Counterpoint Research says financing will account for 42% of India smartphone sales in 2026, up from 35% in 2025, with 67% of financed purchases routed through NBFCs. Samsung tops EMI-driven sales ahead of Vivo and Apple, fueled by rising prices and Tier-2/3 demand.
What happened
Samsung leads India smartphone sales via EMI financing, ahead of Vivo and Apple. Counterpoint estimates financing will hit 42% of sales in 2026, up from 35%,
Key facts
- 42% of India smartphone sales via financing in 2026
- 35% in 2025
- 67% financed sales via NBFCs
Why this matters
The shift toward financed smartphone sales opens M&A and partnership targets among NBFCs and fintech lenders that control the 67% financing channel driving Samsung's, Vivo's, and Apple's India growth.
What to watch
- RBI regulatory guidance on consumer-durable/NBFC lending or risk-weight changes
- Quarterly NBFC delinquency and DPD data on smartphone EMI portfolios
- Competitor zero-cost EMI campaign launches ahead of festive season
- Counterpoint/IDC ASP and financed-share updates for H1 2026
- Interest rate moves affecting no-cost EMI subsidy economics
- Deepen retail partnerships with NBFCs and BNPL players to lock exclusive EMI slots and down-payment subsidies for mid-tier SKUs
- Expand Tier-2/3 offline financing infrastructure (in-store credit desks, instant approval) to capture unbanked-to-financed buyers
- Bundle device insurance/protection plans into EMI to raise attach revenue and offset financing cost
- Stress-test exposure to NBFC delinquency by diversifying financing partners across banks and captive credit