New Delhi, May 22 -- India's smartphone industry is likely to witness a 5-7 per cent decline in volumes in this financial year ending March 2027 amid global economic uncertainty and inflationary pressures, although the industry is still expected to register 8-10 per cent value growth due to higher product prices according to Chairman of the India Cellular & Electronics Association (ICEA), Pankaj Mohindroo.

In an exclusive interview with ANI, Mohindroo said, "Domestic volume demand has remained at the same level for the last five years. This year, we will see a drop of about 5-7 per cent in volume. In value, we will grow because of the higher cost of product. From last year, value growth should be between 8-10 per cent."

He attributed th...