Led by iPhones, India sees highest Q1 smartphone exports by value

Led by Apple’s iPhones, India’s smartphone exports by value were the highest ever in the first quarter of any financial year during Q1 of FY27, touching nearly $10 billion, with the US by far the country’s biggest market.

 

Based on April-June 2026 data, smartphone exports grew by 23.4 per cent, hitting $9.84 billion compared to $7.97 billion during the same period last year.

 

With this, smartphones accounted for 64.8 per cent of the country’s total electronics goods exports in April-June at $15.2 billion.

 

In April-May, the US accounted for a dominant 71 per cent of the total value of smartphone exports from the country.

 

Based on this trend, industry projects that smartphone exports should touch $35 billion in FY27 compared to $29 billion in FY26 but there are some key riders.

 

Apple, which is expected to introduce its first foldable phone globally in September, will not assemble it in India, at least for the time being, unlike other iPhones such as the top-end iPhone Pro and Promax.

 

The foldable phones will be assembled in China for the world at least for a while and this could dent exports from India in 2026, say analysts.

 

This impact will be more pronounced in export value because the average sale price of a foldable phone is four to five times more than an average smartphone.   

 

Also, like in India, where the smartphone market by volume has fallen sharply, the same scenario is expected globally. 

 

According to OMDIA, smartphone shipments fell by 13 per cent in Q2 of CY26 (April-June) to 33. 9 million units year-on-year (Y-o-Y) from 39 million units. The value of shipments was not available.

 

However, only Apple has not increased smartphone prices both globally and in India.

 

The analysts say Apple will have no choice but to pass on part of the memory chip price hike to customers across the globe on its new phones which may launch in September.

 

They expect the price increase to be to the tune of $50-100 and over $300 for premium tiers, which is expected to also slow down iPhone sales growth. This could mean that fewer phones from India would be exported, they added.  

 

Smartphone sales globally are projected to fall by 12-14 per cent in CY26 by volume; hence, assembly of phones in the country may also be impacted.