Smartphone markets show divergent trends in India and Mexico

Global smartphone markets are experiencing divergent trends driven by consumer behavior and component costs. In India, demand for refurbished smartphones grew by 30.8% in 2025, with a notable shift toward premium devices. Apple dominates this segment, accounting for over 65% of refurbished smartphone sales, with the iPhone 13 being the most frequently traded and purchased model. The rise in high-value refurbished sales is accompanied by an increase in 5G device participation and a growing interest in extending device lifecycles through repair and reuse.

In contrast, the Mexican smartphone market is facing headwinds due to rising memory costs and economic pressures. In Q2 2026, Samsung led the Mexican market with a 30% shipment share, followed by Xiaomi at 17% and Apple at 14%. Memory price inflation, which saw a 130% quarter-over-quarter surge in early 2026, has contributed to higher retail prices and a decline in demand for affordable devices. This trend is reflected across Latin America, where shipments dropped 12% year-over-year as increased DRAM and NAND costs impacted entry-level segments.