New Delhi, June 23 -- Apple and Samsung may not see unbridled growth in a slowing smartphone market in India, but that may not stop them from launching what could be their most expensive devices to date-smartphones priced above Rs.2 lakh.

Retailers, distributors, industry bodies and analysts told Mint that Apple and Samsung, which together account for over 40% of the domestic phone market's revenue, are expected to launch phones priced above the lofty Rs.2 lakh sticker in the next three months.

A number of factors play key roles in this: the cost of engineering a new device type, high raw material and logistical costs due to the Iran war disruption and exponentially high memory chip prices due to the artificial intelligence-led shortage...