India's Consumer Electronics and Smartphone Sales Slowdown Amid Price Hikes and Geopolitical Pressures

India's consumer electronics and smartphone sales slowed sharply in Q4, dragging FY26 growth down to 3-4% from 9-10% the previous fiscal year. Smartphone volumes fell, hurt by up to 30% price hikes, while appliance sales rose 4-5%. FMCG sales value growth was also impacted by GST-led price cuts, resulting in just 2% growth in Q4. Underlying demand remained stable, but revenue growth was hit by lower prices.