Smartphone Prices Jump 15% Globally As Memory Costs Rise

Smartphone prices have increased by an average of 15 per cent globally in 2026, with new models launching at prices about 25 per cent higher than their predecessors as rising memory costs put pressure on manufacturers.

The increase could put further pressure on consumers in Nigeria and other price-sensitive markets, where smartphones are already a significant household expense.

According to Counterpoint Research’s Global Smartphone Price Increase Tracker, more than 40 per cent of smartphone models have recorded price increases so far this year.

Some models have nearly doubled in price as original equipment manufacturers (OEMs) pass higher memory and component costs to consumers.

Source: Counterpoint Research Global Smartphone Price Increase Tracker

Middle East Africa See 18% Increase

The Middle East Africa recorded an average smartphone price increase of 18 per cent, putting the region among the markets most affected by rising device costs.

India recorded the highest increase at 21 per cent, followed by Asia Pacific at 19 per cent and the Middle East and Africa at 18 per cent.

Markets with larger premium smartphone segments recorded smaller increases. China saw prices rise by 10 per cent, while Europe and the United States recorded increases of 7 per cent and 5 per cent respectively.

Counterpoint said price-sensitive markets have been hit harder because low- and mid-range smartphones account for a large share of sales, leaving manufacturers with less room to absorb higher production costs.

Why Smartphones Are Getting More Expensive

Rising memory prices have become a major factor behind the increase.

Tarun Pathak, Research Director at Counterpoint Research, said memory has become a key driver of smartphone bill-of-materials costs, leaving manufacturers with limited room to absorb the increase.

“Memory has become a key driver of smartphone BoM costs, resetting pricing across the industry and leaving OEMs with limited room to absorb higher costs,” Pathak said.

Memory prices have reportedly risen fourfold since the fourth quarter of 2025, adding to the pressure on smartphone manufacturers.

To manage costs, some manufacturers are reducing storage capacities, cutting back camera configurations and reintroducing 4G models in selected price segments.

Nigerians May Feel The Pressure

For Nigerian consumers, the global increase could add to the cost of replacing smartphones, particularly as many buyers rely heavily on imported devices.

While the Counterpoint data is based on global retail prices rather than Nigerian retail prices, higher international device costs can eventually feed into local prices through import, distribution and foreign-exchange costs.

Consumers are already responding to higher prices by delaying upgrades, waiting for major sales events and buying refurbished or pre-owned devices.

Retailers and mobile operators are also increasingly using installment plans, financing and trade-in programmes to make more expensive smartphones easier to afford.

Apple Keeps iPhone Prices Steady

Apple has so far kept its iPhone prices largely unchanged despite the increase in memory costs.

Counterpoint said this is significant because iPhone sales account for more than half of Apple’s total revenue, while memory prices have risen fourfold since Q4 2025.

However, the research firm expects prices for new smartphones to continue rising over the coming quarters.

Karn Chauhan, Senior Analyst at Counterpoint Research, said the upcoming iPhone 18 series could also face pricing pressure.

“Prices for new smartphones are expected to keep rising over the coming quarters, including for the upcoming iPhone 18 series,” Chauhan said.

He added that persistent memory shortages and elevated component costs are expected to continue putting pressure on manufacturers’ profit margins.

OEMs are therefore expected to prioritise premium devices, adjust storage options and optimise their product portfolios to protect profitability while limiting price increases in price-sensitive markets.