India, Aug. 11 -- In a rather worrying trend, India's smartphone financing system is clocking longer tenures, as consumers with an intention to buying premium phones, are willing to often pay higher interest in return for paying back that cost over a period of time. This method, however, is proving to be a pressure release valve for phone makers, who are desperate for traction amidst plateauing demand. There are two key reasons for that-phones have become more expensive due to geopolitical instability led supply chain issues, and a typical lull ahead of the festive quarter later in the year.

Research firm Counterpoint's latest Smartphone Financing Tracker data released today, points out two key details-the NBFC, or non-banking financial ...