Smartphone Prices in India Could Rise in Q2 2024 Due to Rising Component Costs: Report

Feb 6, 2024

According to recent reports, smartphone sales have started to pick up in India and other markets, but changes in the cost of an essential component may cause smartphone prices to rise again in the coming months. According to a report, the price of memory chips used in handsets sold by two component manufacturers in the country is expected to increase. The anticipated price hike is likely to impact budget 5G smartphones the most, especially those priced below Rs. 10,000.

Smartphone prices in India may rise in the second quarter of 2024 as both Micron and Samsung hike the price of their DRAM chips – a smartphone memory component – ​​by up to 20 per cent, according to an ET Telecom report citing recent Trendforce data. Planning to increase. Current quarter. An unnamed industry executive told the publication that the increase in costs is expected to push up smartphone prices in the coming quarter.

Data from the market research firm reportedly estimates that contract prices of smartphones using the older LPDDR4x technology will increase by 8 percent and contract prices of handsets with LPDDR5/LPDDR5x memory will increase by 10 percent. The report also predicts a DRAM shortage in the coming months as the hardware is used for other applications such as AI.

According to the report, although this may translate into higher end-prices, the recent duty cut on smartphone components may provide partial relief to customers from the anticipated increase in prices. Manufacturers may also choose to offer lower memory configurations on their upcoming smartphones to keep the cost of their phones low.

According to the report, this strategy could benefit budget 5G smartphone makers, who have recently started offering higher RAM and storage configurations at lower prices. By choosing to reduce their memory configurations, these companies can ensure that the base models of their budget handsets can be purchased for under Rs. 10,000.

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