Smartphone Price Hikes Hit India: Will Diwali Discounts Offset Rising Costs?

Smartphone buyers could face a price dilemma this festive season. Realme, Oppo, Vivo, OnePlus and Samsung have already raised prices on select models, with hikes ranging from ₹500 to as much as ₹12,000. Rising memory costs, driven partly by strong AI data-centre demand, are putting pressure on smartphone manufacturers as chipmakers divert capacity towards AI and server applications. IDC estimates smartphone prices have already risen around 15% by the end of the second quarter, with a further 7% to 10% increase possible if component costs remain elevated. OnePlus has also acknowledged rising memory costs as a factor behind recent price adjustments. Meanwhile, Apple has so far largely kept iPhone prices unchanged, although reports have pointed to possible price pressure with the upcoming iPhone generation. So, will Diwali sales bring genuine savings — or will higher component costs eat into festive discounts?