Consumers who missed out on buying or upgrading their smartphones during the festive season will now have to pay more, as handset brands have raised prices across several popular models. Smartphone prices have gone up by up to Rs 2,000 for existing models, while prices of upcoming premium phones are expected to rise by more than Rs 6,000, according to industry sources.
Sources said the latest round of price hikes — coming immediately after the festive season — is driven by rising memory component costs, broader supply chain pressures affecting other key components, and the Indian rupee’s depreciation against the US dollar. They said supplies of mobile memory chips used in mid- and entry-level smartphones are tightening, as manufacturers cut production and shift capacity toward high-bandwidth memory (HBM) components.
Chinese Brands Lead the First Wave of Hikes
Retail channel checks revealed that Chinese handset makers Oppo, Vivo, Xiaomi and South Korea's Samsung have already increased prices of their popular smartphones. Other Chinese brands OnePlus, Motorola and Realme are expected to decide on similar price adjustments within this week.
Oppo has increased the prices of its F31 (8GB/128GB and 8GB/256GB) variants by Rs 1,000 each, and the Reno14 and Reno14 Pro models by Rs 2,000 across all storage options, effective November 2.
"In view of ongoing global supply and demand shifts, the prices of chips and memory components have been steadily increasing since August 2025. The continued shortage in memory supply has further intensified this situation, and as per industry research, the prices of chips, memory, and other key raw materials are expected to remain on an upward trend through the end of 2026," China’s Oppo said in a communication to its retail partners.
"To ensure the uninterrupted delivery of high-quality products and services to our valued customers, and to safeguard the long-term interests of our business partners, we have carefully reviewed the situation and decided to revise the prices for select models, effective November 4, 2025," the company added.
India’s leading smartphone maker Vivo has also raised the prices of its T4 Lite and T4x models by around Rs 500 per variant across multiple RAM and storage configurations. Meanwhile, Samsung, the country’s second-largest brand, has hiked the price of its Galaxy A17 by Rs 500 and removed the in-box charger worth Rs 1,000 — leading to an effective price increase of Rs 1,500, according to information shared by the companies with retailers.
Premium Models to Get Costlier
China’s Xiaomi, which had previously offered discounts on popular models such as the 14C and A5 — priced at Rs 300 and Rs 200 respectively — has now discontinued the scheme. “Xiaomi had planned to extend these discounts but pulled back after noticing price hikes by other brands,” a second retailer said.
Xiaomi is preparing to launch its new Note series next month, and these upcoming models are expected to carry higher price tags, he added.
A Xiaomi India spokesperson told Moneycontrol that the ongoing AI super cycle has triggered an industry-wide surge in memory costs, and as input cost pressures persist, the industry could see broader price revisions in 2026.
“Even then, Xiaomi will take measured steps to ensure our consumers are impacted the least and continue to enjoy true value for money. In line with our mission of honest pricing, we are closely monitoring these market shifts to ensure users continue to access cutting-edge innovation without facing significant price impact,” the spokesperson said.
The company added that it has maintained its current price offerings for Indian consumers this month, shielding them from immediate cost fluctuations even as price adjustments have started surfacing across the industry.
Sources added that the prices of upcoming premium devices — including Oppo’s Find X9 series, Xiaomi's 17 series, and Vivo’s X300 series — will also be revised upward.
“On running products, all brands will increase prices in November. Oppo and Vivo have done so for some models and will continue to do so for others that are performing well in the market. Realme and OnePlus are also expected to follow market leaders like Vivo in the same category,” a retailer told Moneycontrol on condition of anonymity. “Motorola will do so for a couple of models, while Samsung has already increased prices for one model.”
An industry source said that new models across price segments will be launched at higher price points due to the rise in component costs, including memory, chipsets, and displays.
Queries sent to Oppo, Vivo, Realme, Samsung, Motorola and OnePlus did not elicit any response.
Inventory Build-Up Adds Pressure Post-Festive Season
Upasana Joshi, research manager for channel research at IDC India, told Moneycontrol that smartphone brands had heavily pushed shipments during the festive season through deep discounts and affordability schemes across both online and offline channels, leading to a higher-than-usual inventory build-up in Q4 2025.
While brands moved large volumes to retailers and e-tailers in Q3, sell-through to consumers was slower than expected. Consumer demand remained skewed toward premium models, while the mass-market segment continued to face weak traction, leaving retailers with excess lower- and mid-tier inventory, she said.
"This inventory glut, coupled with rising component prices, currency fluctuations, and overall cost pressures, has made it difficult for brands to clear stock—prompting many to increase prices after Diwali," Joshi said.
IDC now expects the final quarter of the calendar year, or Q4 2025, to see a year-on-year decline in shipments following moderate growth in Q3 2025, leading to an overall drop in annual smartphone shipments to below 150 million units for the year.
Premiumization Trend to Continue Despite Headwinds
Tarun Pathak, Research Director at Counterpoint Research, told Moneycontrol that the increasing component costs will influence handset makers’ strategies and push them to focus more on the premium segment.
The impact of this price hike on mass-market models will be lower and more pronounced on premium models starting in 2026, he said. "In 2025, there are just two months left, and there is existing inventory in the market, but if this persists in 2026, average selling prices (ASPs) will be on the higher side due to supply chain pressures, leading to incremental price hikes."
India’s smartphone shipments grew 5% year-on-year (YoY) in volume and 18% YoY in value, signalling a shift toward steady, value-led growth. This surge was fueled by festive sell-in, strong online and offline campaigns, and easy financing and trade-in offers that encouraged consumers to upgrade, as per Counterpoint's July-September data.
Retailers Warn of Slower Sales in Coming Months
Retailers cautioned that the post-festive price hikes, despite the positive buying sentiment and GST cuts across consumer categories, could hurt market momentum and delay purchase decisions until the next round of online sales.
“This will have a substantial negative impact on November sales, which is already a slow month. The sales numbers will go down in November and December,” another retailer told Moneycontrol on condition of anonymity.
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