India’s smartphone market showed uneven movement in 2025, according to Counterpoint Research’s Monthly India Smartphone Tracker. The year began with slower activity due to elevated channel inventory and a limited number of new launches. Market conditions improved from Q2 as fresh models entered the market and channel stocking increased during the festive period, contributing to a record quarterly value in Q3.
Shipments moderated in Q4 as brands focused on inventory correction and managed higher component costs. For the full year, the market recorded 1% year-on-year (YoY) growth in volume and 8% YoY growth in value, indicating a continued shift toward higher-priced devices.
Premium Smartphones Shape Market Value Growth
Counterpoint Research noted that India’s macroeconomic environment remained stable through 2025, supported by steady domestic demand, controlled inflation levels, and repo rate reductions that eased financial conditions. Tarun Pathak, Research Director at Counterpoint Research, stated that OEMs adjusted their portfolios in line with these conditions, with a stronger emphasis on higher-priced devices and improved financing access enabling upgrades.
Manufacturers increased their focus on premium devices with advanced camera systems and flagship-grade features, while financing options provided buyers with greater flexibility, contributing to higher value realization.
Premium segment and pricing trends:
- Premium segment (> INR 30,000) grew 11% YoY in volume, making it the fastest-growing category
- The segment accounted for 22% of total shipments, the highest share recorded to date
- Apple achieved its highest-ever annual value share in India
- Entry-tier shipments (< INR 15,000) remained under pressure due to rising memory and component costs
- OEMs with a higher premium mix maintained margins through pricing discipline and steady demand for flagship and near-flagship devices
Brand-wise Performance and Market Share Trends
vivo (excluding iQOO) led the Indian smartphone market in 2025 with a 20% volume share, according to Counterpoint. Senior Research Analyst Prachir Singh explained that vivo followed a dual approach across mass-market and higher-priced segments. The Y and T series contributed to volume shipments, while the X series grew 185% YoY, supported by the ZEISS camera partnership and the introduction of the X200 FE, positioned between the V series and flagship models.
Samsung ranked second, driven by sustained demand across the A, M, and F series. The company also recorded increased traction in the premium category, with the Galaxy S series achieving its highest-ever shipment share.
OPPO (excluding OnePlus) secured the third position, led by shipments from the A and K series. Apple recorded 28% YoY growth, supported by broader presence beyond metro markets, improved channel execution, and seasonal sales activity. The iPhone 16 emerged as the top-shipped smartphone model of the year.
Key Market and Technology Trends in 2025
- Smartphone shipments fell 4% YoY in Q4 2025, mainly due to weaker post-festival demand and rising memory costs.
- MediaTek led India’s chipset shipments in 2025 with a 47% share, followed by Qualcomm at 29%.
- motorola recorded 54% YoY growth, making it the fastest-growing smartphone brand in India during 2025
- Samsung led the foldable smartphone segment with 88% volume share and 28% YoY growth
- Financing accounted for 40% of total smartphone sales, rising to nearly two-thirds within the premium segment
- Dolby Atmos support continued to expand as audio features gained relevance in purchasing decisions
- Average battery capacity increased by ~9% YoY, emerging as a differentiator amid pricing pressure in the mid-range
- Average smartphone RAM rose ~5% YoY, reflecting higher requirements from AI-enabled apps and on-device processing
CMF Records Strong Growth in 2025
CMF recorded 83% YoY growth in 2025, making it the fastest-growing brand in its segment, with 59% YoY growth in Q4. The brand now operates as a legally incorporated entity in India, reinforcing the country as its primary operational base.
This development follows Nothing’s $100 million manufacturing joint venture with Optiemus, positioning India as a key production and export hub for both CMF and Nothing-branded devices.
Nothing Posts Higher Growth in Q4 2025
Nothing emerged as the fastest-growing OEM in Q4 2025, registering 32% YoY growth, supported by wider offline retail expansion across major markets. Channel partners attributed demand to factors such as “clean UI”, “reliable connectivity”, and a differentiated design approach.
The company continued to expand local manufacturing under the Make in India program and announced plans to open its first flagship retail store in Bengaluru on 14 February 2026, aimed at showcasing its product ecosystem.
Market Outlook for 2026
Counterpoint projects that India’s smartphone market will see a single-digit volume decline in 2026, as rising memory and component costs continue to impact demand, particularly in the sub-INR 15,000 segment. At the same time, price increases and a greater emphasis on premium devices are expected to push average selling prices (ASPs) up by 5–7% YoY, supporting further value growth despite softer shipment volumes.