New Delhi, Oct. 14 -- For the third consecutive quarter, global smartphone shipments have suffered a substantial and steeper decline, and have breached the lower Q3 numbers in 14 years. The higher cost of components leading to more expensive smartphones, with weakening consumer affordability putting pressure on the overall smartphone market. Tarun Pathak, Counterpoint's Research Director, tells HT that 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, while new phones cost significantly more than their predecessors. In an Indian context, the Q3 decline comes off a strong base in the same period last year. "Although festive sales begin in October, phone makers typically build channel inventory in Q3 ahead of the festive season. However, higher device prices and subdued demand likely led to more cautious stocking this year," Pathak said, adding that price-sensitive segments faced the greatest pressure, while premium and mid-premium devices remained relatively resilient. The latest data by Counterpoint Research pegs global smartphone shipments decline at 20% year-on-year in Q3 2026, and this follows an 11% drop in Q2 (that was the lowest Q2 level since 2013). Q1 2026 had also seen a 6% decline. They estimate that as smartphone makers have passed on the higher cost of components to consumers, average smartphone retail prices have increased by 20% so far in 2026. Pathak points out that memory prices are now up 5X within a year. "The global smartphone market is currently going through one of the most challenging times. The full brunt from memory crisis was seen in Q3 2026 when the market sharply declined 20%, the weakest third quarter since 2012," he said. Samsung leads the global market share stakes with 23% share, followed by Apple with 22%. Competition is distant for the two runaway leaders, with Xiaomi (10%), Oppo (9%) and Vivo (8%) following, who have all lost market share due to declining shipments year-on-year....