Festive smartphone sales face steepest decline in decade in wake of memory chip crisis

“Now, this festive season we’re staring at a 25% decline driven by a multitude of market factors. The smartphone market under ₹15,000 in India, which accounts for more than half the devices sold here, no longer have enough options for buyers. Alongside this, phones have become sturdier, and buyers are continuing to increase the usage lifespan of smartphones in India—putting their purchases off for the time being,” said Navkendar Singh, associate vice-president at IDC India. “India will continue to face a steep downward spiral for the smartphone market, which could lead to sales as low as 124 million units for the full year.”