OnePlus holds ground in India as Samsung, rivals raise phone prices amid memory cost squeeze

Mobile phone prices have increased by 16 per cent on average in India due to an increase in the cost of memory, with a weaker rupee adding to the woes as it made imported components more expensive for local manufacturers, market research firm Counterpoint Research said on Tuesday.

According to Counterpoint Research, the overall smartphone market is expected to decline in double digits except that of Chinese mobile phone brand OnePlus because of limited increase in price.