India, the world’s second-largest smartphone market by volume, saw a steeper increase than the wider Asia-Pacific region, where prices rose 19%, and the Middle East and Africa, where they increased 18%, according to Counterpoint Research’s Global Smartphone Price Increase Tracker released on Sept. 3.
Globally, prices of existing smartphone models have risen by an average of 15% this year, with some devices nearly doubling in price. Newly launched smartphones are also debuting at prices around 25% higher than comparable models released a year earlier.
The increases have been milder in markets where premium devices make up a larger share of sales, with prices up 10% in China, 7% in Europe and 5% in the U.S.
iPhone 17 models. Photo by VnExpress/Tuan Hung
Memory prices have risen about fourfold since late 2025, putting particular pressure on India, where low- and mid-priced smartphones account for a large share of sales and manufacturers have less room to absorb higher component costs, according to Outlook Business.
Brands and retailers have also pulled back discounts to protect thinning margins, according to an International Data Corporation (IDC) report released last month. The shift marks a reversal from last year, when early festive discounts and offers were used to stimulate demand.
Overall smartphone shipments declined 10% year-on-year in the April-June quarter, the biggest drop for a June quarter in six years, according to a Counterpoint report released in July.
Chinese manufacturers have been particularly exposed because of their strong presence in India’s entry-level and mass-market segments. Vivo remained the country’s largest smartphone seller during the quarter, while Samsung and Apple proved more resilient as consumers increasingly moved toward higher-priced devices.
Globally, manufacturers are also responding to higher costs by offering lower storage capacities, reducing camera specifications and adjusting their product lineups.
Consumers are delaying upgrades, choosing lower-storage models and turning to refurbished devices, while financing and trade-in programs are helping soften the impact of higher prices.
Apple has so far kept existing iPhone prices broadly steady despite the industry-wide increases, but Counterpoint Senior Analyst Karn Chauhan expects prices to rise for the upcoming iPhone 18 series.
Memory shortages and elevated component costs are expected to persist in the near term, prompting manufacturers to prioritize higher-margin premium models while adjusting specifications and storage options to contain price increases in more price-sensitive segments, he added.