Morning Brief Podcast: Does Slumping Smartphone Demand Spell a Gloomy Diwali?
Well, if you thought the biggest firecracker disappointment this Diwali would be your uncle's questionable karaoke skills, think again. India's smartphone market is limping into the festive season like a battery at 1%, threatening to douse the celebratory glow before it even starts. Apparently, even the allure of a new gadget selfie isn't enough to tempt wallets when prices are skyrocketing faster than a poorly aimed rocket. Perhaps this year, the greatest gift will simply be avoiding FOMO from friends flaunting their *new* phones, because nobody's getting one.
Indeed, beneath the festive glitz, India's smartphone sector is grappling with significant headwinds. The July–September quarter saw a sharp decline in shipments, with the crucial sub-₹20,000 segment bearing the brunt of this slowdown. This slump is exacerbated by a global memory-chip crunch, which is not only hiking production costs but consequently pushing up retail prices. The result? Consumers are delaying their anticipated upgrades, creating a domino effect that dampens market vibrancy right when it should be peaking for Diwali.
