On April 7, it was reported that top brands had raised prices by nearly 40%, pushing the average phone cost from ₹15,000 in 2022 to ₹26,000 now.
But with essentials taking priority and memory chip prices staying high, this move didn't boost sales as hoped.
Analysts say things could pick up if global markets stabilize, but for now, it's a tough time for both buyers and brands.