Counterpoint: Nothing Tops India’s Smartphone Growth Rankings In Q2 2026

India's smartphone market recorded a sharp slowdown in the second quarter (Q2) of 2026, with overall shipments declining 10 percent year-on-year, according to Counterpoint Research's Monthly India Smartphone Tracker. The market research firm said this was the steepest decline for a June quarter in the past six years, driven largely by repeated price increases across smartphone segments. Despite the broader market weakness, London-based Nothing emerged as India's fastest-growing smartphone brand during the quarter, while Vivo retained its position as the country's largest smartphone vendor by shipments.

Counterpoint reported that Vivo, excluding iQOO, led the market with a 17.8 percent share, supported by strong demand for its premium V70 series smartphones. However, sales of its Y and T series softened following price hikes. Samsung secured the second position and was the only brand among the top five manufacturers to register annual shipment growth, posting a two percent increase. The company benefited from sustained demand for its Galaxy A and Galaxy S series, attractive seasonal offers, and a stronger presence in the Rs. 15,000 to Rs. 20,000 price segment through its Galaxy A, M, and F lineup.

Oppo ranked third with a 13.6 percent market share, driven by healthy demand in the above-Rs. 20,000 segment through models such as the A6 and K14 series. Xiaomi, including Poco, captured a 13.4 percent share to secure fourth place, while Realme rounded out the top five with a 10 percent market share. Apple's shipments declined three percent year-on-year, leaving the company with a seven percent share of the Indian smartphone market. Although demand for the iPhone 17 series remained strong, Counterpoint attributed slower shipment growth to persistent supply constraints and inventory shortages across both online and offline retail channels.

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Nothing stood out as the fastest-growing smartphone brand in India, recording an impressive 105 percent year-on-year growth in shipments during the quarter. The figures exclude shipments from its former sub-brand, CMF. Counterpoint attributed the company's performance to strong consumer demand for the Nothing Phone (4a) series, along with increased brand visibility through its title sponsorship of Royal Challengers Bengaluru during the 2026 Indian Premier League season. The report also noted that this marks the ninth time in the last ten consecutive quarters that Nothing has been India's fastest-growing smartphone brand. Meanwhile, Google recorded a 68 percent year-on-year increase in the ultra-premium smartphone segment, reflecting continued momentum in the high-end market.

According to Counterpoint Research, the overall decline in smartphone shipments was primarily caused by multiple rounds of price hikes resulting from record-high memory costs. Senior Analyst Prachir Singh said the average smartphone selling price increased by around 15 percent by the end of the quarter. The report added that inflationary pressures and weaker discretionary spending have prompted consumers to delay smartphone upgrades, extending replacement cycles and weighing on overall market demand despite continued interest in premium devices.

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