India, June 11 -- India's smartphone market may no longer be growing rapidly in unit terms (as per IDC's May 2026 report), but consumers are spending more on their devices than ever before. As premium smartphone costs rise, up by 14% in Q1 of 2026 alone, handset protection is becoming less of an add-on and more of a necessity.

Yet handset protection remains a largely underpenetrated market in India. While the global mobile handset protection industry is estimated to be worth $15.9 Bn, only about 10-12 Mn devices in India are covered by protection plans each year-equivalent to roughly 6-8% of annual smartphone sales.

"For the industry, the next growth opportunity may lie beyond the traditional point-of-sale protection," said Abhishek Mah...