Rising Memory Costs Trigger 12% Decline in Indian Smartphone Shipments

India's smartphone shipments are projected to drop by 10-12% this year as escalating memory costs drive up phone prices, according to a CyberMedia Research report.

The CMR report indicates that a 2% year-on-year decrease in shipments is primarily due to a sharp rise in DRAM and NAND flash prices, leading brands to hike prices, which has caused price-sensitive consumers to delay upgrades.

Amid market pressures, the report projects that brands in the affordable and mid-range tiers will face volume declines, although high demand continues to buoy Apple's shipments with a 6% year-on-year increase.

(With inputs from agencies.)