As India enters a busy sales season with Prime Day, Raksha Bandhan and Independence Day events, smartphone brands are rolling out deep discounts to clear elevated stock levels ahead of the crucial festive season later this year.
Inventory levels in the domestic smartphone market remain significantly higher than a year ago, driven by a sharp post-Diwali slowdown and continued portfolio refreshes by brands preparing for 2025, according to Counterpoint Research.
“As we wrap up the first half of this calendar, there's a higher level of inventory in the Indian smartphone market compared to the same period last year. The inventory buildup started in Q4 last year after the end of the festive season when sales dropped sharply after Diwali and smartphone brands started refreshing their portfolios to get ready for 2025,” said Tarun Pathak, research director at Counterpoint.
Smartphone brands have focused on liquidation in H1 2025, leading to a projected 3% YoY decline in sell-in (supply) while retail sales are expected to grow 3% YoY.
Despite the sell-in or supply drop, inventory remains elevated, pushing brands to offer heavy discounts and promotions during upcoming sales to clear stock before the Diwali season.
“Q2 started at almost 11 weeks on inventory and came down to 10 after Monsoon sales, but is picking up again as brands have started filling in channels. Demand is also slowly coming back, but still early signs to reflect real demand of H2 2025,” Pathak said.
Counterpoint’s channel checks reveal that Vivo, Samsung, Apple and Motorola have leaner inventory, while brands like OnePlus, Xiaomi, iQoo, Realme, Oppo and Nothing hold more stock.
While most brands are expected to offer discounts, Pathak said that steeper deals will likely come from those carrying higher inventory levels.
As brands prepare to clear high inventory ahead of the festive season, major smartphone makers and consumer tech companies are rolling out deep discounts during upcoming sales events, such as Amazon Prime Day. These offers highlight the aggressive promotional push currently underway in India’s smartphone and electronics market.
For instance, Samsung is offering the Galaxy S24 Ultra 5G at its lowest-ever price of Rs 74,999, sweetened with up to 12 months of no-cost EMI, making it one of the most attractive premium phone deals in recent times. Meanwhile, Apple’s iPhone 15 is now available for just Rs 57,999, a rare price point exclusive to the Prime Day sale.
The mid-range and budget segments are also experiencing aggressive pricing. The iQOO Neo 10R 5G is being sold for just Rs 23,499, which includes a Rs 2,000 instant bank discount, a Rs 500 coupon, and up to 6 months of no-cost EMI.
Similarly, the OnePlus 13s is down to an effective price of Rs 49,999, courtesy of a Rs 5,000 bank offer and 12-month EMI support, positioning it as a strong upgrade option for value-seekers. The OnePlus 13, 13R, and budget-friendly Nord CE4 Lite are also available at discounted prices and with various offers.
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