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The constraint shaping India's smartphone market is memory pricing.
Rising chip costs are making Chinese handsets more expensive, and as those prices move toward the range where Samsung and Apple compete, the value case for those two brands strengthens in what is the world's second-largest smartphone market.
Memory components sit near the top of a smartphone's bill of materials, meaning chip-level price moves transmit quickly into production costs.
When those costs rise, device makers must choose between compressing margins or repricing at retail.
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