Nothing Becomes India's Fastest-Growing Brand Amid Smartphone Market Slowdown in Q2 2026: Counterpoint

Smartphone shipments in India declined 10 percent year-on-year (YoY) in the second quarter (Q2) of 2026, according to a report by a market research firm. It reportedly marks the steepest drop for a June quarter in six years and has been attributed to a sharp rise in smartphone prices driven by record-high memory costs. London-based Nothing emerged as India's fastest-growing smartphone brand during the quarter, while Vivo retained the top spot in terms of shipments. Samsung, meanwhile, was the only top-five smartphone brand to register annual growth.

Smartphone Shipments in India: Q2 2026

According to Counterpoint Research's Monthly India Smartphone Tracker, Vivo (excluding iQOO) retained its top position with a 17.8 percent market share. The market analysis firm suggests this growth was helped by strong demand for its premium V70 series despite weaker sales of its Y and T series smartphones following price increases.

India Smartphone Market Volume Share by Brand, Q2 2025 vs Q2 2026
Photo Credit: Counterpoint Research

Samsung followed in second place and was the only top-five OEM to post annual shipment growth, registering a two percent YoY increase. The South Korean tech conglomerate reportedly benefited from healthy demand for its Galaxy A and Galaxy S series smartphones, aggressive summer sales offers, and a stronger presence in the Rs. 15,000 to Rs. 20,000 price segment through its Galaxy A, M, and F series.

Oppo secured the third position with a 13.6 percent market share, supported by strong performance in the above-Rs. 20,000 segment with models such as the A6 and K14 series. Xiaomi, including Poco, ranked fourth with a 13.4 percent share, while Realme rounded out the top five with a 10 percent contribution in shipments.

Apple's shipments declined three percent YoY during the quarter. Counterpoint said that this left the Cupertino-based tech giant with a seven percent market share in the Indian smartphone market. While the demand for the iPhone 17 series is said to have remained strong, persistent supply constraints and inventory shortages across online and offline retail channels reportedly limited shipment growth.

The report also highlighted Nothing's strong performance, with 105 percent YoY shipment growth. Consequently, it was reportedly India's fastest-growing smartphone brand in Q2 2026. Notably, these figures exclude the company's former sub-brand, CMF. This growth is attributed to strong consumer demand for the Nothing Phone (4a) series and increased brand visibility following its title sponsorship of Royal Challengers Bengaluru during the 2026 Indian Premier League season.

Notably, it is the ninth time in the last 10 consecutive quarters that Nothing has emerged as India's fastest-growing smartphone brand.

According to Counterpoint, Google also posted strong momentum in the premium segment, registering 68 percent YoY growth in the ultra-premium category.

The market research firm said that multiple rounds of price hikes drove the overall decline in smartphone shipments across almost every smartphone segment. According to Prachir Singh, Senior Analyst at Counterpoint Research, the average smartphone selling price increased by around 15 percent by the end of the quarter. Inflationary pressures and weak discretionary spending are also reported to have extended smartphone replacement cycles.