On September 4, Counterpoint Research unveiled a report tracking the trends in global smartphone prices. The report disclosed that, starting from 2026, the average retail price of smartphones available worldwide has climbed by 15%, with the prices of certain models nearly doubling. This surge is primarily attributed to the relentless increase in the prices of memory chips. This price hike has directly escalated the bill of materials (BOM) costs for smartphones, compelling original equipment manufacturers (OEMs) to transfer these costs to consumers. Consequently, prices have risen for over 40% of smartphone models. Among them, India has witnessed the largest price increase at 21%, followed by China at 10%, and Europe and the United States at 7% and 5%, respectively. To rein in costs, smartphone manufacturers are refining specifications, cutting down on storage capacity, and streamlining camera setups. Meanwhile, consumers are adjusting to these price hikes by postponing upgrades, choosing lower-storage variants, or purchasing refurbished devices.