Smartphone volumes may dip 5-7% in FY27; value to grow by 8-10%: ICEA

New Delhi: India’s smartphone industry is likely to witness a 5-7% decline in volumes in this financial year ending March 2027 amid global economic uncertainty and inflationary pressures, although the industry is still expected to register 8-10% value growth due to higher product prices according to Chairman of the India Cellular & Electronics Association (ICEA), Pankaj Mohindroo.

In an exclusive interview with ANI, Mohindroo said, “Domestic volume demand has remained at the same level for the last five years. This year, we will see a drop of about 5-7% in volume. In value, we will grow because of the higher cost of product. From last year, value growth should be between 8-10%.”