Smartphone brands have focused on clearing excess inventory in the first half of 2025, resulting in an estimated 3% year-on-year decline in shipments. Despite this, retail sales are projected to grow by 3% during the same period.
With major shopping events like Prime Day, Raksha Bandhan, and Independence Day approaching, brands are rolling out aggressive discounts to reduce stock levels ahead of the festive season later this year.
Inventory levels in India’s smartphone market remain elevated compared to the same time last year. This is largely due to a sharp drop in demand post-Diwali and ongoing product refreshes in preparation for new launches. “As we wrap up the first half of this calendar, there’s a higher level of inventory in the Indian smartphone market compared to the same period last year. The inventory buildup started in Q4 last year after the festive season ended, when sales dropped sharply and smartphone brands began refreshing their portfolios for 2025,” said Tarun Pathak, Research Director at Counterpoint.
“Q2 started with nearly 11 weeks of inventory, which dropped to 10 after Monsoon sales. However, it’s picking up again as brands are refilling channels. Demand is slowly returning, but it’s too early to gauge the true momentum of H2 2025,” Pathak added.
According to Counterpoint’s channel checks, Vivo, Samsung, Apple, and Motorola are operating with leaner inventory, while OnePlus, Xiaomi, iQOO, Realme, Oppo, and Nothing have higher stock levels. While most brands are offering discounts, those with more inventory are expected to offer steeper price cuts.
To attract buyers, smartphone and consumer tech companies are launching heavy promotional offers during events like Amazon Prime Day. For instance, Samsung’s Galaxy S24 Ultra 5G is available at a record-low price of ₹74,999, with up to 12 months of no-cost EMI. Apple’s iPhone 15 is being offered at ₹57,999 — a rare deal exclusive to Prime Day.
The mid-range and budget segments are also seeing sharp pricing. The iQOO Neo 10R 5G is available at an effective price of ₹23,499 with a ₹2,000 instant bank discount, ₹500 coupon, and 6 months no-cost EMI. The OnePlus 13s is priced at ₹49,999 after a ₹5,000 bank offer and a 12-month EMI plan. Other models, including the OnePlus 13, 13R, and Nord CE4 Lite, are also part of these deep-discount campaigns.