Smartphone volumes may dip 5-7% in FY27; industry value to grow 8-10% amid higher device costs: ICEA

India's smartphone market faces a volume drop of 5-7 percent this financial year. However, value is expected to rise 8-10 percent due to increased product prices. Higher memory chip costs and the AI boom are key factors. Financing becomes crucial for new smartphone users. India is also a major smartphone manufacturer and exporter.