Indian smartphone market sees premium shift as budget segment volumes crash 47%

India's smartphone market experienced a 10% year-on-year decline in shipments during the April-June quarter, driven by a 47% collapse in the sub-₹15,000 category. In contrast, the premium segment priced above ₹30,000 grew 16%, pushing the market's average selling price up nearly 20% to around ₹30,000. The trend highlights a market polarization, with aspirational upgrades being fueled by the wide availability of consumer credit.