India, Oct. 13 -- Global smartphone shipments have suffered a substantial and steeper decline for the third consecutive quarter, breaching the lower Q3 numbers in 14 years. The higher cost of components are making smartphones pricier, with weakening consumer affordability putting pressure on the overall smartphone market.

Tarun Pathak, Counterpoint's Research Director, told HT India isn't immune and the worst is still not over. "India's smartphone shipments are expected to decline around 20% YoY in Q3 2026, based on preliminary estimates," he said.

In recent weeks, most smartphone brands have increased the prices of phones that are already on sale, with new phones costing significantly more than their predecessors. In India, the Q3 decl...